PayTM has seemingly chosen Uttar Pradesh as the launch vehicle for the upcoming Payments Bank. The Alibaba backed payment service provider and popular E Wallet company will come up with pilot projects in different parts of the state.
PayTM has set a target of 200 million accounts in a span of the next one year. This includes savings and current accounts along with the already popular mobile wallets. They have aimed to connect the unserved community to the banking services. The plan is to have almost half billion account holders by the next four years.
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