CEO of One97 Communications said this about Paytm, know the complete details
Paytm Update: RBI has ordered to ban Paytm Payments Bank on 31 January 2024 under compliance with the rules. This means that after March 15, 2024, users cannot do any transactions with Paytm Bank. Vijay Shekhar Sharma, CEO of Paytm's parent company One97 Communications, has expressed his ambitions for Paytm at an event in Japan.
At present Paytm Payments Bank is surrounded by difficulties from all sides. Now a new update has come regarding Paytm. Vijay Shekhar Sharma, founder and CEO of Paytm's parent company fintech firm One97 Communications, said that the company is playing an important role in the partnership.
Shekhar Sharma shared the vision to establish the company at the Asia level. The founder of One97 Communications made this statement at an event in Japan. He says in this program that obscure business brings many difficulties. Sharma stressed the importance of perseverance in achieving the company's mission.
Sharma holds a 51 per cent stake in Paytm Payments Bank Limited. The Reserve Bank of India (RBI) has ordered a ban on Paytm Payments Bank. After March 15, 2024, customers will not be able to do any transactions with Paytm Bank.
However, Paytm Wallet services which are not linked to PPBL will also work after March 15.
Paytm announced a strategic collaboration with Axis Bank to facilitate seamless and secure merchant settlements through trust-based escrow accounts.
One 97 Communications which owns the Paytm brand. It operates a subsidiary, Pay Pay, in Japan. Sharma has described the digital payment ecosystem as having an important role. He said that this is very important for the development of the company.
Regarding Paytm, Sharma said that he has the ambition to see it grow in the digital payments sector in Asia.
The fintech firm is actively engaging with leading banks to form partnerships aimed at enhancing customer experience and expanding their payment solutions.
