Page 3 - Card Machine News Today

Union Finance Minister Nirmala Sitharaman is expected to meet fintech startups next week amid regulatory concerns, after the central bank acted on Paytm Payments Bank and put certain curbs.

Paytm parent fintech firm One97 Communications has shifted its nodal account to Axis Bank from Paytm Payments Bank. This move will allow the company to continue operating Paytm QR, Soundbox, card machines after the March 15 deadline set by the Reserve Bank of India (RBI).

The Enforcement Directorate has found no evidence of Foreign Exchange Management Act (FEMA) violations by Paytm Payments Bank Ltd (PPBL), as per reports. This comes amid media speculating about FEMA violations by the company in the past week.

To ensure seamless merchant settlements as before, One 97 Communications Limited has shifted its nodal account to Axis Bank (by opening an Escrow Account).

Brokerage firm Bernstein noted that RBIs focus is on Paytm Payments Bank, and not all aspects of Paytm, adding that the March 15 deadline extension provides Paytm more time for regulatory changes.

In a bid to maintain seamless merchant settlements as before, financial services company Paytm has announced to shift its nodal account to Axis Bank, which was previously used with the Paytm Payments Bank Ltd (PPBL). �� Paytm Shifts Nodal Account to Axis Bank: What Does This Mean?.

In a bid to maintain seamless merchant settlements as before, financial services company Paytm has announced to shift its nodal account to Axis Bank, which was previously used with the Paytm Payments Bank Ltd (PPBL).In a regulatory filing with ...

Paytm QR, Soundbox, and Card Machine, will continue to operate seamlessly for all their merchant partners, said One 97 Communications.

Leading payments and financial services company Paytm on Friday reassured its users that its mobile app, including the widely-used Made in India QR code, Soundbox, and Card Machine will remain operational without interruption even after March ...

The nodal account of Paytm is like a master account in which all its customers, merchant transactions are settled