Paytm Says Merchants With QR Code Don't Need To Look For Alternatives
Paytm, the pioneer of QR and mobile payments, on Tuesday announced that its QR codes will continue to function as usual, allowing merchants to accept payments beyond February 29, 2024. For services like Paytm QR, where Paytm Payments Bank, acts as a back-end bank, these services will seamlessly transition to other partner bank/s. Following an update by the RBI during the Monetary Policy Committee regarding Paytm Payments Bank, the Deputy Governor emphasized that the opportunity for partnership with Paytm Payments Bank will be a prerogative of banks, paving way for ongoing and possible collaboration between Paytm Payments Bank and other banking institutions. These widespread endorsements serve to solidify Paytm's reputation as a trusted partner for businesses nationwide, further cementing its position at the forefront of India's rapidly evolving payments industry.
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