Just In
- 7 hrs ago Redmi Pad SE With 90Hz Display Launching on April 23 in India; Could Be Priced for Less Than Rs 20,000
- 7 hrs ago Motorola Edge 50 Fusion Launched with Snapdragon 6 Gen 1 SoC, Pantone Validated Cameras, IP68 Rating
- 8 hrs ago Motorola Edge 50 Ultra Launched with Snapdragon 8s Gen 3 SoC, 144Hz OLED Display, Wooden Back
- 10 hrs ago Garena Free Fire Max Redeem Codes for April 16: Get Access to the Latest In-game Loot
Don't Miss
- Finance 107% Returns: Tata's NBFC Doubles Investors Money, Rs 53,440 Profits On Rs 50K; Key Parameters To Buy/Sell
- Sports KKR vs RR Memes: Fans Take Potshot at KKR for Conceding Match after Scoring 223; Praises Jos Buttler's Knock
- Lifestyle Dr Sarvepalli Radhakrishnan Death Anniversary: Profound And Inspiring Quotes For Students
- Movies Bade Miyan Chote Miyan Vs Maidaan Box Office Collection Day 6: Akshay Kumar BEATS Ajay Devgn. Margin Is...
- News UAE Weather Report: Floods Hit Dubai, 18 Dead; Govt. Shuts Schools, Colleges
- Education UPSC Success Story: An IITian, A Government Job Holder at Railways, Quit the Job and Emerged as an IAS
- Automobiles Jeep Compass Gets More Powerful 268.3bhp Turbo Petrol Engine – Check Out All The Details Here
- Travel From Coconut Breaking on Head to Men Dressing as Women: 12 Unique Indian Rituals Explored
Paytm to transfer its wallet business to Payment Bank on Tuesday
Paytm has recently raised funding of Rs $ 1.4 billion from Softbank. and this is the largest investment by the latter in a single company in India.
Digital payment player Paytm will transfer its wallet business to Payment Bank Ltd on Tuesday. The company is already sending messages to all wallet holders about its new move.
According to the website, the Payment Bank is licensed by the Reserve Bank of India. and now through this, Paytm can now accept customer deposits up to Rs. 1 lakh per customer in a wallet, savings or current account and offer other banking services like Debit Cards, online Banking, and mobile banking.
To open an account, users need to complete KYC by signing up digitally.
Meanwhile, Paytm has recently raised funding of Rs $ 1.4 billion from Softbank. and this is the largest investment by the latter in a single company in India.
Paytm said that: "This investment will help us grow our leadership in the country's payment ecosystem, expand our user base and build a suite of financial services products for our customers."
Everything about GST: How will it impact telecom and handset industry
The company added it will also complement our plan to invest Rs 10,000 Cr (approx $1.6 Bn) over the next three to five years towards our commitment to enable half a billion Indians to join the mainstream economy.
"We have been going from strength to strength in our payments division. Our zero cost QR Code-based payment solution has been adopted by millions of merchants and is now synonymous to digital payments in India. Going forward, we will continue to innovate and expand into new online and offline use cases so we can serve you better, and that's a promise," Paytm further added.
Paytm offers mobile wallet (over 220 million users) It had raised $60 million from Taiwanese chip maker MediaTek last year.
-
99,999
-
1,29,999
-
69,999
-
41,999
-
64,999
-
99,999
-
29,999
-
63,999
-
39,999
-
1,56,900
-
79,900
-
1,39,900
-
1,29,900
-
65,900
-
1,56,900
-
1,30,990
-
76,990
-
16,499
-
30,700
-
12,999
-
3,999
-
2,500
-
3,599
-
8,893
-
13,999
-
32,999
-
9,990
-
12,999
-
25,377
-
23,490