In a recent statement, Paytm, the trailblazer in QR and mobile payments in Bharat, reassured its users that its app will continue to function seamlessly beyond February 29. The clarification comes in response to the Reserve Bank of India’s (RBI) directive, which, according to Paytm, impacts only its associate bank and not the core fintech operations.
Vijay Shekhar Sharma, the founder and CEO of Paytm, took to social media to convey the message and express gratitude for the ongoing support from Paytm users. In a post, Sharma stated, “To every Paytmer, Your favourite app is working, will keep working beyond 29 February as usual. I, with every Paytm team member, salute you for your relentless support.”
To every Paytmer,
Your favourite app is working, will keep working beyond 29 February as usual.
I with every Paytm team member salute you for your relentless support. For every challenge, there is a solution and we are sincerely committed to serve our nation in full…— Vijay Shekhar Sharma (@vijayshekhar) February 2, 2024
Sharma further emphasized the company’s commitment to serving the nation in full compliance with regulations. Despite challenges, he expressed confidence that Bharat would continue to receive global accolades in payment innovation and financial inclusion, with Paytm leading the way as a prominent champion.
The clarification aims to allay any concerns among Paytm users regarding the impact of the RBI directive on the app’s functionality. Paytm has played a pivotal role in transforming the digital payment landscape in Bharat and is determined to maintain its services without disruption.
The RBI directive, while affecting Paytm’s associate bank, does not extend its implications to the broader fintech services provided by Paytm. The company reassures its users that the app will remain operational, highlighting its dedication to providing secure and efficient digital payment solutions.
As Bharat continues to make strides in payment innovation and financial inclusion, Paytm remains a key player, pledging to overcome challenges and contribute to the nation’s success in these domains. Paytm users can thus expect the app to operate seamlessly beyond the end of February, ensuring uninterrupted access to their preferred digital payment platform.
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