Question: Why Has Paytm Been Removed?

What happened with Paytm?

On September 18, the payments and financial services app Paytm was temporarily removed from the Google Play Store.

But the app was back within a few hours after Paytm removed the UPI cashback and scratch card campaigns from its platform.

This, according to Google, was akin to promoting gambling..

Is Paytm Safe 2020?

We assure all our users that their balances and linked accounts are 100% safe. Our services are fully functional on all existing apps and you can continue enjoying Paytm like before.

Why my Paytm is not working?

If your Paytm or other mobile wallet is not working then you could blame the recent KYC norms, that are being effective from today. … They were initially given time till December 31, 2017, to make those accounts KYC- compliant, which was extended to February 28.

Is Paytm dangerous?

The reason for this is that as a platform, Paytm still remains the same sort of secure financial services platform that it was yesterday. … All your money is completely safe, and you can continue to enjoy your Paytm app as normal.

Why I Cannot use Paytm wallet?

In case, any one of the parties have not completed their KYC, the transaction would not happen. Despite having completed the KYC process, to send an amount higher than Rs. 10,000, you will need to add the receiver as a beneficiary through your Paytm app.

Has Paytm been removed from play store?

On Friday, 18 September 2020, India’s most preferred payments and financial services app – Paytm was temporarily removed from the Google Play Store. … Google, as a result, has enormous control over which apps you download through its Play Store policies.

Will Paytm survive?

He added that at the current loss rate, the company has enough money to survive for over 4 years. Paytm had announced a $1-billion investment from T Rowe Price, SoftBank and Ant Financial in November last year, while it is lining up additional funding.

Why Paytm is not banned in India?

Paytm has received some major investments from Fintech firm Ant Group, an affiliate company of Chinese Alibaba Group. The company holds about 40% stake in Paytm. However, Paytm is owned by the Indian company One97 Communications. Therefore, the recent ban hasn’t affected the e-payment platform in India.

Can Paytm be hacked?

Yes, it’s possible. Like any other bank account, paytm can also be hacked! Though it’s possible, you can still remain safe by ensuring: You have a strong password.

Which is better GPAY or Paytm?

Well here Paytm has an advantage over Google Pay. It allows you to pay your bills and mobile recharge via credit card. For Google Pay, you don’t have an option to pay through credit cards. So if you are running out of cash and your bill is due, you can pay the same via Paytm using a credit card.

Why Paytm bank is not working?

The Reserve Bank of India (RBI), in one of rare instances, has disclosed the reason for blocking Paytm’s payments banking business. … The Noida-headquartered firm has violated know-your-customer (KYC) rules while on-boarding users, TOI reported citing RBI’s response to an RTI filed by the newspaper.

Why money is not added in Paytm wallet?

Paytm allows its users to add money to Paytm wallet through various modes including online banking, debit cards, and credit cards. … In fact, this is the primary reason for customers not being able to add money to their Paytm wallet. In most cases, this happens if you have exceeded your KYC limits.

Is Paytm bank approved by RBI?

The Reserve Bank of India (RBI) has given its approval to Paytm Payments Bank Ltd, which is co-owned by One97 Communications and Vijay Shekhar Sharma, to restart its know your customers (KYC) process as well as open fresh accounts.