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  • Category: General

    Paytm Payments Bank start at the end of March 2017

    We already know Paytm announced earlier that introducing it Payments bank in 2017. RBI has approved this payments bank on January when the Paytm plays an important role in demonetization period. Now the question is how the Paytm payments bank works. How the process of Payments bank will compete with the other banks. The processes like loans, insurance, salary and savings accounts, card option and so on, will this payments bank has these process. Members do share your thoughts and views on this thread.
  • #25082
    First of all no idea why they (Paytm) are unnecessarily started and will end the services, seriously if you check their points / reasons. There are many other apps and options available for online payment or transaction since long and going well, only few got issues (I don't want to take their name [except wallet]).

    I can understand the Smartphone and its (such) relevant app helps to buy any goods at even smaller shop without cash transaction (except showing Paytm code etc. to them) or transact amount to/from required account, as an initiative of 'cashless economy' too. Anyhow, if this is working / going well (even with little trouble) from the beginning then no idea why they are going to stop it.

    The process like like loans, insurance, salary etc. would work based on 'registered mobile number' (like 'email id' for Paypal) and subject to the acceptance of the respective bank for certain loan or insurance. In case if they stopped this (like Paytm) service then it will come back to the earlier (old) process only and will continue the same till the next update.

    Regards,
    Hafeezur Rahman

  • #25085
    Hafeezur, you seem to have got confused with what the thread wants to put forth. The Payments Bank is not ending it's operations. They will be functional from March end.
    I would request the thread starter to make the thread titles intelligible while creating threads. There should be some coherent relation between the point of discussion and the title.

    Live....and Let Live!

  • #25087
    @Timmappa, thanks for reply. I clearly understood what thread creator stated here. The same topic somewhere I saw that Paytm is going to stop their service etc. including the same subject talks between my friend earlier as well and its stop etc. So, it was stated over here which confused little bit on stop and starts its service. Anyhow, let the reply remain the same, and we will see the changes or updates from Paytm in the future.
    Regards,
    Hafeezur Rahman

  • #25088
    Maybe the euphoria of the banking services is wearing out slowly and that could be the main reason for such decisions. With demonetisation and emphasis on cashless transactions, banks have much deposits with them. That could be a dissuading factor as well.
    Live....and Let Live!


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