Paytm Payments Bank

0 standards supported

Overview

Paytm Payments Bank is Indian payments bank + One97 Communications + Vijay Shekhar Sharma ~51% controlling + RBI Payments Bank license + ~330M+ historical customers + Mar 15 2024 RBI operational shutdown for non-compliance + customer migration to Paytm wallet on third-party PSP partner Yes Bank + Axis Bank + HDFC Bank + SBI [1, in-cro].

History

Aug 2015 — RBI grants in-principle Payments Bank licenses to 11 entities including Paytm.

May 23 2017 — Paytm Payments Bank launched as Indian payments bank distinctive Indian payments banking heritage.

Jan 31 2024 — RBI Mar 11 2024 deadline order halts all Paytm Payments Bank new deposits + credit transactions for non-compliance with KYC + AML norms.

Mar 15 2024 — Paytm Payments Bank operational shutdown per RBI directive + customer migration to Paytm wallet on third-party PSP partner Yes Bank + Axis Bank + HDFC Bank + SBI distinctive Indian payments banking shutdown.

Ownership & operator

Operating entity: Paytm Payments Bank Limited (Indian payments bank; One97 Communications + Vijay Shekhar Sharma ~51% controlling).

Major shareholders: One97 Communications Limited (NSE: PAYTM + BSE: 543396; Indian super-app wallet parent) + Vijay Shekhar Sharma Paytm founder + CEO ~51% controlling.

Regulators: RBI.

Technical integration

Paytm app (iOS + Android; ~330M+ Paytm Payments Bank historical customers) + paytmbank.com online + Paytm Payments Bank Visa + Mastercard + RuPay cards (legacy); UPI + BharatQR + IMPS + RuPay; Paytm wallet migrated to third-party PSP partner Yes Bank + Axis Bank + HDFC Bank + SBI post-Mar 15 2024 RBI shutdown.

Implementations & partners

Paytm parent: [[paytm]] (Paytm One97 Communications; NSE: PAYTM + BSE: 543396; Indian super-app wallet; ~330M+ Indian customers).

Major Indian payments bank + payments competitors: [[airtel-payments-bank]] (Airtel Payments Bank; India's #1 Payments Bank by customers + India's first Payments Bank; ~70M+ Indian customers) + [[india-post-payments-bank]] (India Post Payments Bank IPPB; Indian government India Post Payments Bank; ~600M+ India Post customers) + [[fino-payments-bank]] (Fino Payments Bank; BSE: 543386 + NSE: FINOPB; Indian payments bank) + [[jio-payments-bank]] (Jio Payments Bank; Reliance Jio + SBI JV Indian payments bank) + [[nsdl-payments-bank]] (NSDL Payments Bank; NSDL Indian depository payments bank) + [[phonepe]] (PhonePe; Walmart Flipkart subsidiary; India's largest UPI wallet by transactions) + [[google-pay-india]] (Google Pay India; India's #2 UPI wallet by transactions) + [[amazon-pay-india]] (Amazon Pay India; Indian wallet by Amazon).

Regulator: RBI.

Status

Winding down, Indian payments bank + One97 Communications + Vijay Shekhar Sharma ~51% controlling + RBI Payments Bank license + Mar 15 2024 RBI operational shutdown for non-compliance + customer migration to Paytm wallet on third-party PSP partner Yes Bank + Axis Bank + HDFC Bank + SBI [1, 2].

Sources

1 Paytm Payments Bank — official
2 Paytm Payments Bank — Wikipedia
in-cro In-corpus: reports/countries/IN-india.md

Source

Biography extracted from paytm-payments-bank.md. See matrix.md for standards-support matrix if present.