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Paytm now tieup with 3rd party banks to continue Paytm Payment Gateway business

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Pavan said:
@S S V my worry is if paytm POS machine is sacked taking 1500 for MRCC is tough 🙁 since most PAYTM machine by default accepted amex
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In my view, there will be some turbulence for the next couple of months initially then surprisingly everything will be business as usual..

I can give more realistic views after RBI’s FAQ and also in the last week of Feb
 
S S V said:
Yes as a I said before it is a game being played by big fishes.. don’t get caught in between and get crushed..
Look at the co relation between the paytm share price and the news coming out on those respective days.. when the price tries to go up some kind of news comes out and forcing the price to hit lower circuit in the following sessions.
Somehow someone wants to keep the share price really really down to take the appropriate action at the right time…
Of course VSS is largely at the fault for this fiasco.
But ultimately the destiny will be decided by someone else.. just watch the game and enjoy it as per your understanding…
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buyout at 97 rs by JIO?
 
CD. said:
buyout at 97 rs by JIO?
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It won’t be as straightforward as one would think…
Look at how things happened in the case of NDTV..
There will be very professional maneuver in these type of scenarios…
 
deep@vie said:
#Exclusive After Paytm Payments Bank and a set of lending companies, Reserve Bank of India has now come hard on fintechs offering commercial/corporate cards. According to three sources, RBI has asked Visa and Mastercard to stop transactions of vendor payments.

While there has been no communication from Mastercard yet but Visa has sent out a communication to its fintech partners asking them to stop Business Payment Service Provider (BPSP) transactions.

The communication from Visa reads: "We have been directed by the regulator to ensure that all Business Payment Service Provider (BPSP) transactions be kept in abeyance till further notice. Hence, we kindly ask that all BPSP merchants/merchant ids registered by yourselves with Visa be immediately suspended till advised by us to the contrary. For avoidance of doubt, any transaction authorized prior to the communication would be settled in the ordinary course of business.
We kindly ask that you send us a confirmation at the earliest that such merchants/merchant IDs have been blocked and transactions ceased. Failure to adhere to these instructions could result in regulatory sanction and non-compliance assessment under the Visa rules."

A senior official, whose fintech is directly impacted by this decision, said, "There's some miscommunication or misrepresention to RBI, otherwise there’s no reason they would be doing this. This is coming from a point of view that there’s quite a bit of transactions happening in the ecosystem in the name of tuition fee, rental payments and the likes of it...which is becoming too large to manage. RBI's concerns might be the source of the money and where it is going."

"It's a kneejerk reaction by the RBI.
While we haven't got any official communication from RBI directly but what we have been told is that the RBI came to Visa and Mastercard and asked them to explain what is Business Payment Service Provider (BPSP) transactions. It is like either you come and explain this to us or stop these transactions."
Companies such as EnKash, Paymate among others operate in this segment.

"Our huge part of business came from this. As per industry estimates, spends happening on commercial cards at one point was somewhere about Rs 25000 crore per month, out of which 20%-25% was for vendor payments," the official quoted above claimed.
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What's the implication?

Business credit cards launched by HDFC is going to dustbin?
No more GST claims when booking flights/hotel via credit or debit cards?
No rent/education payments via credit/debit cards?
No acceptance by bharatbext/tide etc of credit/debit cards?

If all these are yes, I guess it is done to target rotations 😂. If no, then I don't understand the point 😅.
 
Harry1 said:
What's the implication?

Business credit cards launched by HDFC is going to dustbin?
No more GST claims when booking flights/hotel via credit or debit cards?
No rent/education payments via credit/debit cards?
No acceptance by bharatbext/tide etc of credit/debit cards?

If all these are yes, I guess it is done to target rotations 😂. If no, then I don't understand the point 😅.
Click to expand...
Next will be on personal cards
 
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