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Paytm Payment Banks to enable international remittances

April 15, 2021

Paytm Payment Banks to enable international remittances

Paytm Payments Bank (PPB) plans to venture into working with cross-line just as domestic remittances. The bank’s CEO said that the new umbrella entity (NUE), proposed by PPB and different financial investors, will change the speed of digital payments in the country, whenever affirmed.

Addressing TOI, the bank’s MD and CEO Satish Kumar Gupta said that it has become the biggest empowering agent of digital transactions in India at 970 million in March 2021. It has likewise become the biggest digital-only bank with 64 million bank accounts and deposits of over Rs 3,200 crore, he said.

As indicated by Gupta, PPB’s digital transactions were diversifying across numerous platforms including UPI, digital wallet, FASTag, and peer-to-peer transfers. Subsequently, the bank was not stressed over the National Payments Corporation of India’s choice to cover piece of the pie in UPI transactions. “We likewise have the most minimal specialized decline rate at 0.1% among all UPI remitter banks and 0.04% among all UPI beneficiary banks,” he said.

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