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This week, we're looking at Plaid's latest step towards an IPO, one BNPL company's financial results, and more.

This past week, Plaid announced it had hired its first-ever president. Notably, the former Cloudflare chief product officer, Jen Taylor, has plenty of experience in helping take a private company public — something we expect Plaid will be doing in the relatively near future. Coincidentally, I was already working on a “Here are the fintech startups that could go public in 2024” piece.

Ashneer Grover, Founder of BharatPe criticised the RBI for punitive action against Paytm Payments Bank, calling it an overreach that sends the message that banks are important but fintechs are not.

Paytm fiasco: Paytm wallet, which offers services such as FASTag, falls under Paytm Payments Bank. Paytm had previously announced that FASTags and wallets would need to be transferred to alternative banks

One97 Communications Limited, its parent firm, is reportedly holding talks with the National Payments Corporation of India (NPCI), in this regard.

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 banks handle. Paytm aims to use three or more banks to start issuing new VPAs to its customers for use from next month, sources said.

Over a decade ago, Vijay Shekhar Sharma transformed India’s digital payment landscape with Paytm. The recent RBI crackdown on its associate payments bank may, however, have put the brakes on the rapid rise of one of India’s most valued fintech unicorns

India Business News: Paytm's parent company One97 Communications, is in talks with the National Payments Corporation of India to use third-party payment apps to ensure uni

Paytm plans to collaborate with three or more banks to issue new VPAs to its customers in order to address the transition of Paytm UPI users virtual payment addresses (VPAs) to handles associated with other banks.

After the central bank cracked down on Paytm Payments Bank, the question is how will Paytm be affected? What part of the business could be lost and what will remain? Where does it go from here? Does it offer value? Here’s a breakdown of what happened and how it will affect the company