One97 Communications, the parent company of online payments platform Paytm brand, has received support from merchants. The company said in a blog on Sunday that it has assured merchants of uninterrupted service.
This blog post comes amid the recent crisis at Paytm’s subsidiary Paytm Payments Bank Limited (PPBL), which has been banned by the Reserve Bank of India (RBI) from accepting deposits or top-ups in customer accounts, wallets, Fastag and other devices after February 29. Have been stopped from doing.
Paytm customers are to be allowed to withdraw or utilize balance from their accounts including savings bank accounts, current accounts, prepaid devices, Fastag and National Common Mobility Cards without any restrictions up to their available balance.
“We assure our users and merchant partners that the Paytm app and services will continue to operate at full capacity,” the blog post said. In such cases, where our partner Paytm Payments Bank acts as the last bank, we can seamlessly migrate these services to other partner banks.”
Paytm said its merchant partners can continue to benefit from solutions like Paytm QR Code, Soundbox and Card Machine as before. It said that leading companies have expressed satisfaction over their long association with Paytm.
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