Sunday, October 01, 2023
Outlook India
Outlook Business

Paytm Payments Bank

The company had posted a loss of Rs 645.4 crore in the same period a year ago

The SDK will soon support new payment types like UPI LITE and UPI on Rupay credit card

The company believes that investing in debt markets in India is still very new and the country has the potential to have 100 million investors

It has claimed to be the first payments bank to go live with UPI Lite on the Paytm Super App and has seen rapid adoption with about 60 lakh users

Currently, 10 banks support Paytm UPI LITE including Paytm Payments Bank, Canara Bank, HDFC Bank, Kotak Mahindra Bank and State Bank of India

Paytm Payments Bank will earn additional interchange revenue from merchants acquired by other payment service providers (PSP), payment gateways (PG) and payment aggregators (PA)

The success rate of transactions via Paytm UPI LITE is said to be improved further as it is designed to reduce the load on bank systems for small-value payments

The Paytm board approved the buyback of shares worth Rs 850 crore on December 13, representing 6.67 per cent of the total paid-up share capital

The platform has won the award in recognition of the superfast and secure transactions powered by Paytm UPI

With this, PPBL has aimed to empower users with convenient payments through a greater acceptance of RuPay credit cards, strengthening the credit card ecosystem in India