Paytm takes Axis Bank's help for QR, Soundbox & card machine functioning
The nodal account of Paytm is like a master account in which all its customers, merchant transactions are settled.
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The nodal account of Paytm is like a master account in which all its customers, merchant transactions are settled.
Paytm QR, Soundbox, Card machine will continue to work as always even beyond March 15.
Mumbai: One97 Communications, the parent company of Paytm, has transferred its nodal account from Paytm Payments Bank to Axis Bank.
Fintech firm One97 Communications -- owner of the brand Paytm -- has shifted its nodal account to Axis Bank from Paytm Payments Bank. The move will allow continuity of Paytm QR, Soundbox, card machine after the March 15 set by the Reserve Bank of India (RBI), as per a regulatory filing. The RBI has advised customers and merchants of Paytm Payments Bank Ltd (PPBL) to shift their accounts to other banks by March 15, giving 15 more days to the beleaguered entity to close most of its operations, including deposit and credit transactions.
New Delhi, Feb 16 (IANS) Leading payments and financial services company Paytm on Friday reassured its users that its mobile app, including the widely-used