Category Added in a WPeMatico Campaign
PM Narendra Modi will be joined by his Mauritius counterpart Pravind Jugnauth and Sri Lankan President Ranil Wickremesinghe in witnessing the launch of Unified Payment Interface services in Sri Lanka and Mauritius and also RuPay card services in Mauritius, via video conferencing Monday. The launch will enable availability of UPI settlement services for Indian nationals …
The company has expanded its product portfolio from 25 to over 160 in the last couple of years, it said, adding that the platform has successfully onboarded over 36 lakh partners, doubling its numbers in just a year, and currently operates across 19,000 pin codes in India. Read more here:
The lack of a clear business model, meagre profit margins, and tight rules have led to a situation where, of the 11 entities granted payment bank licences, only six are currently operational.
The recent suspension of Paytm Payments Bank Limited (PPBL) marks the culmination of a regulatory struggle dating back to 2017, when it was launched. The ban, a result of persistent non-compliance issues, raises questions about the proportionality of the measures and prompts discussions on Paytm’s potential path to redemption in the fintech landscape.
One97 Communications, owner of Paytm, assures merchants and users that services will continue without disruptions. Paytm QR codes, Soundbox, and card machines will still be available. Leading companies express satisfaction with their association with Paytm’s seamless payment solutions.
Currently, those using Paytm to make UPI payments have virtual payment addresses (VPAs) ending in @paytm. After March 1, customers might find this changing to some other bank’s handle. Paytm aims to use three or more banks to start issuing new VPAs to its customers for use from next month, sources said.
Tokenized deposits could facilitate real-time, automated payments based on specified actions within the metaverse, while CBDCs could offer a stable and secure means of exchange, says a BIS study.
“We firmly deny the news of Paytm’s proposed acquisition of Bitsila,” a company spokesperson said in a statement. The statement comes in response to media reports of Paytm E-commerce platforms acquiring Bitsila. Launched in 2020, Bitsila is an ONDC seller platform and supports brands like McDonald’s, BigBasket on ONDC. Read more:
On January 31, the RBI ordered Paytm Payments Bank Ltd, a restricted bank that can take deposits but cannot lend, to not take any further deposits or conduct credit transactions or carry out top-ups on any customers accounts, prepaid instruments, wallets, and cards for paying road tolls after February 29.
Altcoins such as BNB, Solana, and Cardano surged 2-5%. XRP, Avalanche, Dogecoin, Polkadot, and Polygon rose up to 2%, while Tron and Chainlink declined up to 3%. With BTC dominance rising, altcoins saw limited gains, waiting for stability in BTC and a shift in capital flow, CoinDCX added. Read more:
