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May 23, 2017

Paytm Payments Bank launched: Offers 4 percent interest rate per annum, to open 31 branches in first year

Paytm has rolled out its Payments Bank today, just as it was scheduled. The digital wallet company, last week had received final approval from RBI and was all set to commence its payments bank services in India. With the launch, all the Paytm Wallet users who wish to continue are being moved to Paytm Payments Bank Ltd (PPBL).

PPBL will offer almost all the banking solutions to its customers except the the loan service. The bank won’t be able to lend money as of now but it [...]

 
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May 17, 2017

Paytm to begin its payments bank operations on 23rd May: Report

After Airtel, Paytm is all set to inaugurate its Payments Bank operations on 23rd May. Paytm, after receiving the final approval from RBI is finally ready with its payments bank services after a few months of delay. The digital wallet in 2015, had received an in-principal approval from RBI to setup a payments bank which was scheduled to begin the operations around November last year.

As per a public notice, “..Paytm Payments Bank Ltd (PPBL) has received the final licence [...]

 
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March 10, 2017

Paytm offering extra benefits worth of Rs. 381 on Reliance Jio Prime recharges

Paytm, the most popular medium for online recharges and bill payment has now added Reliance Jio to its list. The Reliance Jio Prime prepaid recharges can now be done through Paytm, and not only this, Paytm is also offering Rs. 381 worth extra benefits with the recharge. Paytm is all set with the list of different packs and schemes of Jio prepaid recharges for Jio Prime members.

The extra benefits of Rs. 381 on recharge of Rs. 303 are – Rs. 30 off instantly for up to two [...]

 
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March 10, 2017

Paytm revokes 2% charge on adding money via credit card considering user inconvenience

Paytm on Wednesday announced that they will be charging 2% fee on money transferred to the wallet through credit cards. However this decision was rolled back to avoid inconvenience occurring to genuine users. The 2% charge was implied to stop the abuse of 0 percent fee scheme on transfers by credit card. The 2% fee was refundable in the form of coupons, the use of which was bound to some conditions.

Paytm had explained earlier that why they had to charge 2% on credit card [...]

 
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November 25, 2016

Paytm discontinues mobile app POS over customer’s data privacy and security concerns

A day after launching an in-app POS feature, Paytm on Thursday discontinued the service citing security issues. The POS feature was intended to allow merchants to accept payments via all debit as well as credit cards without the need to install the swipe machines.

The payment network majors Visa and Mastercard have raised concerns over customer data privacy and security issues, as the users are required to enter their card [...]

 
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November 23, 2016

Paytm launches POS app; lets merchants accept debit and credit card payments

The leading mobile wallet company in India, Paytm has launched a new mobile app POS (Point of Sale) that will allow merchants to accept debit as well as credit cards. Basically, it will function as a virtual POS in shops and stores to make a payment, when a POS machine might not be working or is not present.

This latest move from Paytm will especially help small merchants as they will not need to install swipe machines to [...]

 
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November 23, 2016

RBI doubles balance limit on digital wallets to Rs. 20,000 per month

The mobile wallet companies in India such as Paytm, MobiKwik and FreeCharge have seen steep rise in their business, post the demonetisation of Rs. 500 and Rs. 1000 notes. People are moving towards digital wallets amidst the cash crunch.

In a bid to reduce the ongoing cash crunch, Reserve Bank of India (RBI) has increased the existing balance limit on all digital wallets. RBI has doubled the balance limit on digital wallets [...]

 
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November 17, 2016

Paytm now offers money transfer to any bank account at 0% fee

The immediate demonetisation of Rs. 500 and Rs. 1,000 currency notes by PM Narendra Modi has left people cashless and are facing some problems. However, this situation has proved beneficial to the digital wallet companies which are seeing enormous growth in their business.

Paytm Wallet is India’s largest mobile payment service platform with over 100 million wallets. Last week, the company announced that it will take a [...]

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