04 January 2017, India:
Reserve Bank of India has given permission to formally launch Paytm Payments Bank, Paytm & One97 Founder Vijay Shekhar Sharma stated in a blog post.
From villages to cities, from corner vegetable stalls to milk booths, small shops to large retailers, everyone has embraced the new way to pay by Paytm.
He said, “At Paytm Payments Bank, our aim is to build a new business model in banking industry, focused on bringing financial services to 100’s of millions of unserved or under-served Indians. With power of technology and innovation-at-scale, we aim to become a benchmark in world of banking.”
Paytm is India’s largest mobile payment and commerce platform. With current user base of more than 177 million, It is on mission to bring half a billion Indians to main stream of economy using mobile payments, commerce and soon to be launched payment banking services. (Image- Paytm blog)