Paytm ventures into payments banking
The Dollar Business Bureau All eyes have been on Paytm's fortunes since November 8, 2016, the day 80% of India's hard cash lost its value. Having cashed in on this well-timed opportunity, Paytm comes under spotlight yet again for its ambitious expansion plans.After revolutionising the e-commerce industry by making bill payments a one-click job, mobile wallet provider Paytm has ventured into payment banks. The move to enter the uncluttered space of payments banking should work in favour of Paytm as the mobile wallet industry is already clogged with competition from MobiKwik, PayU and others.Following RBI's approval, Vijay Shekhar Sharma, founder of Paytm, proudly announced that Paytm is all set to launch its payments bank. Operations are likely to commence as ...
Paytm eyes for pre-Diwali launch of payments bank
The Dollar Business Bureau Paytm, Noida-based digital payments platform, is laying out a budget of Rs 350-500 cr to launch its payments bank. An executive revealed that the company is planning to launch the Payments Bank before Diwali in October. Shinjini Kumar, Paytm Payments Bank CEO, stated that the implementation of technology is time consuming, but the services will be rolled out before Diwali this year. Earlier, Vijay Shekhar Sharma, Paytm CEO, announced the plans to roll out the Bank in August. However, Kumar stated that the company is engaged in resolving new issues before the launch that was deferring the planned August launch. Kumar further stated that the members of the company involved in the new services are learning new things every day and ...
