Rs 500 and Rs 1000 notes have been abolished by the government and it looks like digital wallets are rejoicing.
Paytm’s tie up with Hindustan Petroleum will eliminate the hassles associated with using cash for paying fuel bills, and further cement its stronghold in the digital wallets with a user base of 120 million.
The emergence of UPI infrastructure provides mobile wallet companies a brilliant opportunity to add more users.
UPI does not require a specific bank account unlike existing players which offer the product to only those who have an account with them.
Paytm says its payment bank will launch in August, and that the Noida-based company is currently in the middle of submitting its final proposal to the RBI.
Paytm says it will not charge any hidden fees for conversion and will convert based on current Forex cards.
UPI is a unique payment solution as the recipient is now empowered to initiate the payment request from a smartphone without using credit or debit card and internet banking.
Paytm aims to move beyond hardware centred digital payments solution, where there’s POS, a merchant, bank and so and so forth
The digital wallets like Paytm, Freecharge, Mobikwik and others have made a human’s life much easier and safer with time
Indian consumers are signing up for digital services but want flexibility when it comes to payment options, says a report by Worldpay.
As mobile app payments grow in India, with apps like Paytm, MobiKwik, PayUMoney, the digital wallet is expanding in a big way.
Paytm will provide a recharge of Rs 30 to people stuck in Chennai floods.
The partnership aims to offer access to finance to small businesses who cannot use new technologies or compete in global markets due to lack of funds.
Users can win PayTM cash starting from Rs 100 to Rs 10, 000 and ten others will win Rs 1 lakh via lucky draw
Saavn collaborates With Paytm to bring mobile wallet payments to Saavn Pro