Paytm now tieup with 3rd party banks to continue Paytm Payment Gateway business:
Update: Paytm Payments Bank Limited, an associate of Paytm receives RBI directions. Paytm to expand its existing relationships with leading third-party banks to distribute payments and financial services products. Read more here: https://www.bseindia.com/xml-data/corpfiling/At...
Sub: Disclosure under Regulation 30 of the SEBI (ListingObligations and Disclosure Requirements) Regulations, 2015
Dear Sir/ Ma’am,
The Company would like to update that it has been informed by its associate entity, Paytm Payments Bank Limited (“PPBL”), that the Reserve Bank of India (“RBI”) vide its press release dated January 31, 2024 has given it further directions under section 35A of the Banking Regulation Act, 1949. PPBL is taking immediate steps to comply with RBI directions, including working with the RBI to address their concerns as quickly as possibl
We are enclosing herewith a press release to be issued by the Company in this regard. The Company will hold a conference call on Thursday, February 1, 2024 from 3:30 p.m. (IST) to 4:15 p.m. (IST) regarding the same.
Please see below the mandatory pre-registration link for attending the call:
https://paytm.zoom.us/webinar/register/WN_G9gIU...
This is for your information and appropriate dissemination. The disclosure will also be hosted on the Company's website viz. www.pay...om. Kindly take the same on record.
Thanking you
Yours Sincerely,
For One 97 Communications Limited
Paytm Payments Bank Limited (“PPBL”), an associate of OCL (One 97 Communications Limited), receives RBI directions. OCL to expand its existing relationships with leading third-party banks to distribute payments and financial services products.
The Company (OCL) would like to update that it has been informed by its associate, Paytm Payments Bank Limited (“PPBL”), that the Reserve Bank of India (“RBI”) vide its Press Release dated January 31, 2024, has given it further directions under section 35A of the Banking Regulation Act, 1949. PPBL is taking immediate steps to comply with RBI directions, including working with the regulator to address their concerns as quickly as possible.
The Company has been informed that this does not impact user deposits in their savings accounts, Wallets, FASTags, and NCMC accounts, where they can continue to use the existing balances.
OCL, as a payments company, works with various banks (not just Paytm Payments Bank), on various payments products. OCL started to work with other banks since starting of the embargo. We now will accelerate the plans and completely move to other bank partners. Going forward, OCL will be working only with other banks, and not with Paytm Payments Bank Limited. The next phase of OCL’s journey is to continue to expand its payments and financial services business, only in partnerships with other banks.
We offer acquiring services to merchants in partnership with several leading banks in the country and will continue to expand third-party bank partnerships. The Paytm Payment Gateway business (online merchants) will continue to offer payment solutions to its existing merchants. OCL’s offline merchant payment network offerings like Paytm QR, Paytm Soundbox, Paytm Card Machine, will continue as usual, where it can onboard new offline merchants as well.
With regard to the direction on termination of nodal account of OCL and Paytm Payments Services Limited (PPSL) by February 29, 2024, OCL and PPSL will move the nodal to other banks during this period.
OCL will pursue partnerships with various other banks, to offer various payment products to its customers.
OCL’s other financial services such as loan distribution, insurance distribution and equity broking, are not in any way related to Paytm Payments Bank Limited and are expected to be unaffected by this direction.
Depending on the nature of the resolution, the Company expects this action to have a worst case impact of Rs. 300 to 500 crores on its annual EBITDA going forward. However, the Company expects to continue on its trajectory to improve its profitability.
Separately, in response to market rumours, our founder has reconfirmed to us that he has not taken any margin loans, or otherwise pledged any shares that are directly or indirectly owned by him.
We would take this opportunity to clarify that as per banking regulations, Paytm Payments Bank Limited is run independently by its management and board. While OCL is allowed to have two board seats on the board of Paytm Payments Bank Limited, as a part of its shareholder agreement, OCL exerts no influence on the operations of Paytm Payments Bank Limited, other than as a minority board member, and minority shareholder.
Paytm is trash. They have been charging convenience fee for payments and purchases using debit cards. For credit cards I'd understand but debit cards?
That's just wrong.
Seems like paytm payments bank is really done this time.
Hey bhagwan Paytm ko bcha lo 
But why did they ban paytm wallet/bank ??? Did they do something wrong ?
Been listening to such news for years already....
Itna acha to chalraha tha unka business???
Paytm is the first who teach total transparency and quick services to all leading Banks.
Paytm Tanks 20% Lower Circuit, it is Near to ALL TIME LOW LEVEL
Paytm payment bank is giving 7.5% interest on FD powered by indusind bank. And the best part, no penalty for early withdrawal
Gayi aayi bhains paani mei
487.2 par le liye risk.. dekhte hain xd
Ek aur yes bank hone wala hai lag raha
Paytm Bank has 30 Cr customers. It will overcome it by any way don't worry
Best alternative to Paytm payment bank ??
So now what is the use of Paytm fastag??
I don't hv paytm share so I don't care
Will wait for an upmove, until then I won't think of investing, this lc lc should get over, will invest small amount for trial 🤣
What about fastag. Do we. need to buy another and what about its security
Tieup ho gaya ya hoga? Title se lag raha ho gaya.. paytm me na jane kya kya link hai.. kahi rah gaya paytm to kya hoga? Dbt bhi yahi aata hai.. scheme wagaira me sab jagah paytm hi laga hai.. ye kya matlab hua bank ko hi ban kar do.. un faud walo ko jail me daalna chahiyr
Paytm is trash. They have been charging convenience fee for payments and purchases using debit cards. For credit cards I'd understand but debit cards?
That's just wrong.
Bank/Visa/MC/Rupay do charge MDR on debit cards as well...
If you dont want to pay dont use... simple.. but nothing wrong if one decide to charge,
Bank/Visa/MC/Rupay do charge MDR on debit cards as well...
If you dont want to pay dont use... simple.. but nothing wrong if one decide to charge,
It has to be borne by the merchant for doing business.
They completely write this off, get tax breaks by 2% for receiving digital payments and more.
Paytm is not selling gift cards and making payments out of the goodness their hearts, they get commissions for this. You know REVENUE.
AFTER ALL THIS, paytm charged like 1.5 - 2% for debit card, how is that OK?
How is this different from shops asking you to pay 2% for using credit cards?
Rbi says they can't charge you for credit cards. The businesses can get their pos machines taken away and charged a fine for asking the customer to pay extra for credit cards. Now tell me, charging the customer is OK for debit cards?
"If you dont want to pay dont use..."
Why so hostile?
It's illogical, it's not like they are making profit. You are using their services. You want everything for free. They have to pay rent, tax, employee etc. If you don't like their service then stop using.
If more people like you comes with illogical theories then all startups will shutdown and we have to use pathetic service of Allahabad or Pnb.
Their UI looks like 2010s website.
I am paying for the company that sells the gift cards and recharges. You know they are not selling that at cost right?
Go ahead do a 10rs recharge to your mobile number. Are you getting the whole 10rs?
There is a slew of charges and taxes.
Same with gift cards. For example, flipkart is mostly a reseller/broking platform, they charge upto 40%(could be more of less) of the sale proceeds to their merchants.
When you buy gift cards and pay from them, they earn A LOT.
These merchants pay commission to paytm for selling their products. That's how paytm is earning.
Now you are saying we want it for free? A customer has already paid for it. The company is paying paytm to get payments digitally.
It's paytm(and other merchants) who wants it for free. They like getting instant payment, not worry about giving credit to customers. They love the tax breaks and audit exemptions that come with it... but they won't pay for it.
What's illogical? paying for a service?
They are not making profit?
All of it's employees are getting paid. The executives and ceo and the people who started it are drawing salaries a normal person can't even imagine.
On top of that, it's a listed public company. These people made millions in the ipo. They are not the ones going to be affected if it goes kaput.
They don't make profits because of their business model. It's intentionally designed that way. They will make profits in a few years if they keep up with it.
And what's up with these personal attacks? Telling me to don't use it? Calling me a freeloader?
Someguy is saying I have half knowledge?
All this for mdr? You people are arguing in favour of a company that charged more than twice the mdr to an end customer?
For a company that got essentially shut down for not following the rules?
I say this one last thing. Go Google what an MDR is. If you still don't understand, I'll explain using the same logic of yours.
If a merchant doesn't want to pay mdr for using a bank's pos machine, to get instant digital payments, they shouldn't use it.