Paytm founder and CEO Vijay Shekhar Sharma took to social media site X (formerly known as Twitter) to thank the company’s customers for their “unwavering support”. He also assured the public that the Paytm app will continue to work after February 29.
“To every Paytmer, Your favorite app is working, will continue to work after February 29 as usual. I along with every Paytm team member salute you for your unwavering support. For every challenge, there is a solution and we are sincerely committed to serve our nation in full compliance,” he wrote.
“India will continue to win global accolades in payments innovation and inclusion in financial services – with PaytmKaro as its biggest champion,” Sharma added.
RBI’s Order a Speed Bump
In a conference call on February 1, Sharma said the Reserve Bank of India’s (RBI) order to stop almost all services of Paytm Payments Bank after February 29 is a faster shell. He added that the company will continue to reduce and reduce the dependence on its associated bank, and will go through accelerating its partnership with other banks.
He informed investors that the company already started working with other banks two years ago and will now accelerate the plan to move to other banking partners. “These are payment-related relationships, which means that all banks have the necessary technologies and capabilities,” the CEO said on a conference call with analysts.
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Published: 02 Feb 2024, 10:01 IST
(tagsTo Translate)Vijay Shekhar Sharma