The Reserve Bank of India on January 31 barred Paytm Payments Bank Ltd (PPBL) from accepting deposits, credit transactions, or top-ups in any customer accounts.
Paytm FASTag: Under the new One Vehicle, One FASTag initiative, each FASTag can only be linked to a single vehicle, and vice versa. As a result, users must deactivate their existing FASTag in order to obtain a new one.
Such an unprecedented event in the fintech ecosystem of the country will not shatter the confidence of traders and others in the digital payment system built over the years, CAIT National President BC Bhartia said
Paytm Wallet users can continue to carry on transactions till February 29. However, after February 29, they will be able to use their existing balance till the time it is exhausted, but cannot add any money to their account.
Twitter has started Tips feature that enables users to support their content creators or small business owners on Twitter by using any Paytm payment instrument like Paytm UPI, Paytm Wallet, Paytm Postpaid (buy-now-pay-later), debit and credit cards, and netbanking.
Noida-based Paytm is in talks with leading insurance companies to provide a free insurance cover on the users’ wallet balance, the company said in a statement on Wednesday.
The company also revealed that the newly-unveiled Windows 10-based phones - Lumia 950 and Lumia 950 XL - will be released in the country in December this year.