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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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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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March 9, 2017

Paytm to charge 2% fee on adding money to Wallet using credit cards

India’s digital wallet company Paytm on Wednesday announced that they will be charging 2.0 percent fee on money transferred to the wallet through credit cards. According to Paytm this step was taken to counter the abuse of 0 percent fee transfer scheme by credit card users. Paytm explained how a few cunning users made use of their Paytm account to earn Extra reward points through their credit cards. The money was added to their Paytm account via credit credit cards at 0 percent [...]

 
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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 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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September 19, 2016

Paytm collaborates with IRCTC: Now book Train Tickets from Paytm App and Website

Paytm is expanding its range widely by offering more and more services via its app and website. Started with mobile recharges and bill payment, Paytm has now become a one stop solution for all online needs, from Shopping to Hotel bookings, Bus and Flights bookings, Recharges and lot more. Paytm Wallets have gone even further in offline area, enabling even a Kirana store or an Auto rickshaw owner to collect payments from customers.

On Friday Paytm announced that it is powering [...]

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