Mumbai: Paytm Payments Bank<\/a> (PPB) plans to expand into facilitating cross-border as well as domestic remittances. The bank’s CEO said that the new umbrella entity (NUE), proposed by PPB and other investors, will change the pace of digital payments in the country, if approved. Paytm支付银行(PPB)计划扩展到促进跨境以及国内汇款。银行的首席执行官表示,新伞实体(自虐)含量和其他投资者提出的,将改变数字的速度付款,如果批准。 孟买:Paytm支付银行(PPB)计划扩展到促进跨境以及国内汇款。银行的首席执行官表示,新伞实体(自虐)含量和其他投资者提出的,将改变数字的速度付款,如果批准。
Speaking to TOI, the bank’s MD & CEO Satish Kumar Gupta said that it has become the largest enabler of digital transactions in India at 970 million in March 2021. It has also become the largest digital-only bank with 64 million bank accounts and deposits of over Rs 3,200 crore, he said.
According to Gupta, PPB’s digital transactions were diversified across many platforms including UPI<\/a>, digital wallet, FASTag, and peer-to-peer transfers. As a result, the bank was not worried about the National Payments Corporation of India<\/a>’s decision to cap market share in UPI<\/a> transactions. “We also have the lowest technical decline rate at 0.1% among all UPI remitter banks and 0.04% among all UPI beneficiary banks,” he said.
He added that the bank has been reporting a profit from the year 2018-19. This would enable PPB to seek conversion into a small finance bank (SFB). Although the RBI<\/a> had said it will relax its rules to allow payments banks to convert into SFBs after three profitable years, it has yet to notify the relaxed norms. Paytm<\/a> is seeking to convert itself into an SFB that will enable it to extend loans.
The RBI<\/a>’s decision to increase the end-of-day balance limits for payments banks to Rs 2 lakh will benefit small merchants who use PPB’s cash management services, he said. Gupta said that PPB has managed to grow transactions in number and value by nearly 25% despite taking a severe hit during the first three months of FY21 due to the Covid lockdown.
“For the coming year, we have received approval for facilitating inward remittance from foreign countries. In addition to this, we are also growing our domestic remittance business,” said Gupta.
Another new line of activity where the bank is seeking approval as an investor is the setting up of an NUE. While he said he could not share the details, Gupta said that the proposed entity, if permitted to operate, could change the pace of digital payments in India.
PPB has also taken over the Bharat Bill Payment<\/a> Operating Unit business from its parent One97 in line with the RBI directive, which will add to its numbers during the current fiscal year.
<\/p><\/body>","next_sibling":[{"msid":84398883,"title":"South Korea launches test bed for 5G devices","entity_type":"ARTICLE","link":"\/news\/south-korea-launches-test-bed-for-5g-devices\/84398883","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[{"msid":"84342507","title":"Paytm IPO gets shareholder nod","entity_type":"ARTICLE","seopath":"markets\/ipos\/fpos\/paytm-shareholders-approve-primary-raise-of-rs-12000-crore-via-ipo","category_name":"IPOs\/FPOs","synopsis":"The Paytm shareholders, in the Extraordinary General Meeting (EGM) on Monday, also approved the declassification of founder and chief executive Vijay Shekhar Sharma as a promoter to ease compliance requirements. Sharma will continue as the managing director and CEO of Paytm, one of the persons cited above added.","thumb":"https:\/\/etimg.etb2bimg.com\/thumb\/img-size-48018\/84342507.cms?width=150&height=112","link":"\/news\/markets\/ipos\/fpos\/paytm-shareholders-approve-primary-raise-of-rs-12000-crore-via-ipo\/84342507"},{"msid":"84364927","title":"Paytm eyes Rs 2,000 crore fundraising before Rs 16,600 crore IPO","entity_type":"ARTICLE","seopath":"paytm-eyes-rs-2000-crore-fundraising-before-rs-16600-crore-ipo","category_name":"Morning Brief - Markets","synopsis":"Shareholders of Paytm\u2019s holding company on Monday approved a Rs 16,600-crore IPO, of which Rs 12,000 crore will be raised through a fresh issue of new shares worth Rs 8,300 crore. Existing investors SoftBank and Ant Group will have the option to sell shares worth another Rs 8,300 crore.","thumb":"https:\/\/etimg.etb2bimg.com\/thumb\/img-size-1427560\/84364927.cms?width=150&height=112","link":"\/markets\/ipos\/fpos\/paytm-eyes-rs-2000-crore-fundraising-before-rs-16600-crore-ipo\/articleshow\/84364903.cms"},{"msid":84396355,"title":"paytm","entity_type":null,"seopath":null,"category_name":null,"synopsis":null,"thumb":false,"link":"\/news\/\/84396355"}],"msid":84399109,"entity_type":"ARTICLE","title":"Paytm Payments Bank to enable international remittances","synopsis":" Paytm Payments Bank (PPB) plans to expand into facilitating cross-border as well as domestic remittances. The bank\u2019s CEO said that the new umbrella entity (NUE), proposed by PPB and other investors, will change the pace of digital payments in the country, if approved.","titleseo":"telecomnews\/paytm-payments-bank-to-enable-international-remittances","status":"ACTIVE","authors":[{"author_name":"Mayur Shetty","author_link":"\/author\/5033\/mayur-shetty","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/5033.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":5033,"author_name":"Mayur Shetty","author_seo_name":"Mayur-Shetty","designation":"Editor","agency":false}}],"Alttitle":{"minfo":""},"artag":"TNN","artdate":"2021-07-14 10:08:49","lastupd":"2021-07-14 10:09:31","breadcrumbTags":["Paytm payments bank","RBI","paytm","MVAS\/Apps","national payments corporation of india","bharat bill payment","upi"],"secinfo":{"seolocation":"telecomnews\/paytm-payments-bank-to-enable-international-remittances"}}" data-authors="[" mayur shetty"]" data-category-name="" data-category_id="" data-date="2021-07-14" data-index="article_1">
Paytm支付银行支持国际汇款
钢铁洪流,银行的MD &首席执行官Satish Kumar Gupta说,它已成为数字交易的最大推动者在印度在2021年3月9.7亿年。它也已成为最大的数字与6400万个银行账户和银行存款超过3200卢比,他说。
根据Gupta, PPB的数字交易在许多平台包括多元化UPI电子钱包,FASTag和点对点传输。因此,银行不担心印度的国家支付公司帽子的市场份额的决定UPI事务。“我们也有最低技术下降率0.1%在所有UPI汇款人银行,0.04%在所有UPI受益人银行,”他说。
的印度储备银行的决定增加source收支银行Rs 2十万的限制有利于小商人使用PPB的现金管理服务,他说。古普塔说,十亿分之设法增加交易数量和价值冲击了近25%,尽管在前三个月FY21由于Covid锁定。
“未来一年,我们已经收到审批促进从国外汇入汇款。除此之外,我们也越来越多的国内汇款业务,“古普塔说。
另一个新活动行银行正寻求批准作为投资者的设置是自虐。虽然他说他不能分享的细节,Gupta说,拟议中的实体,如果允许操作,能改变数字支付在印度的步伐。
磅也接管了巴拉特分期付款经营单位业务从母公司One97符合印度央行的指令,这将增加其数量在当前财政年度。
Mumbai: Paytm Payments Bank<\/a> (PPB) plans to expand into facilitating cross-border as well as domestic remittances. The bank’s CEO said that the new umbrella entity (NUE), proposed by PPB and other investors, will change the pace of digital payments in the country, if approved.
Speaking to TOI, the bank’s MD & CEO Satish Kumar Gupta said that it has become the largest enabler of digital transactions in India at 970 million in March 2021. It has also become the largest digital-only bank with 64 million bank accounts and deposits of over Rs 3,200 crore, he said.
According to Gupta, PPB’s digital transactions were diversified across many platforms including UPI<\/a>, digital wallet, FASTag, and peer-to-peer transfers. As a result, the bank was not worried about the National Payments Corporation of India<\/a>’s decision to cap market share in UPI<\/a> transactions. “We also have the lowest technical decline rate at 0.1% among all UPI remitter banks and 0.04% among all UPI beneficiary banks,” he said.
He added that the bank has been reporting a profit from the year 2018-19. This would enable PPB to seek conversion into a small finance bank (SFB). Although the RBI<\/a> had said it will relax its rules to allow payments banks to convert into SFBs after three profitable years, it has yet to notify the relaxed norms. Paytm<\/a> is seeking to convert itself into an SFB that will enable it to extend loans.
The RBI<\/a>’s decision to increase the end-of-day balance limits for payments banks to Rs 2 lakh will benefit small merchants who use PPB’s cash management services, he said. Gupta said that PPB has managed to grow transactions in number and value by nearly 25% despite taking a severe hit during the first three months of FY21 due to the Covid lockdown.
“For the coming year, we have received approval for facilitating inward remittance from foreign countries. In addition to this, we are also growing our domestic remittance business,” said Gupta.
Another new line of activity where the bank is seeking approval as an investor is the setting up of an NUE. While he said he could not share the details, Gupta said that the proposed entity, if permitted to operate, could change the pace of digital payments in India.
PPB has also taken over the Bharat Bill Payment<\/a> Operating Unit business from its parent One97 in line with the RBI directive, which will add to its numbers during the current fiscal year.
<\/p><\/body>","next_sibling":[{"msid":84398883,"title":"South Korea launches test bed for 5G devices","entity_type":"ARTICLE","link":"\/news\/south-korea-launches-test-bed-for-5g-devices\/84398883","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[{"msid":"84342507","title":"Paytm IPO gets shareholder nod","entity_type":"ARTICLE","seopath":"markets\/ipos\/fpos\/paytm-shareholders-approve-primary-raise-of-rs-12000-crore-via-ipo","category_name":"IPOs\/FPOs","synopsis":"The Paytm shareholders, in the Extraordinary General Meeting (EGM) on Monday, also approved the declassification of founder and chief executive Vijay Shekhar Sharma as a promoter to ease compliance requirements. Sharma will continue as the managing director and CEO of Paytm, one of the persons cited above added.","thumb":"https:\/\/etimg.etb2bimg.com\/thumb\/img-size-48018\/84342507.cms?width=150&height=112","link":"\/news\/markets\/ipos\/fpos\/paytm-shareholders-approve-primary-raise-of-rs-12000-crore-via-ipo\/84342507"},{"msid":"84364927","title":"Paytm eyes Rs 2,000 crore fundraising before Rs 16,600 crore IPO","entity_type":"ARTICLE","seopath":"paytm-eyes-rs-2000-crore-fundraising-before-rs-16600-crore-ipo","category_name":"Morning Brief - Markets","synopsis":"Shareholders of Paytm\u2019s holding company on Monday approved a Rs 16,600-crore IPO, of which Rs 12,000 crore will be raised through a fresh issue of new shares worth Rs 8,300 crore. Existing investors SoftBank and Ant Group will have the option to sell shares worth another Rs 8,300 crore.","thumb":"https:\/\/etimg.etb2bimg.com\/thumb\/img-size-1427560\/84364927.cms?width=150&height=112","link":"\/markets\/ipos\/fpos\/paytm-eyes-rs-2000-crore-fundraising-before-rs-16600-crore-ipo\/articleshow\/84364903.cms"},{"msid":84396355,"title":"paytm","entity_type":null,"seopath":null,"category_name":null,"synopsis":null,"thumb":false,"link":"\/news\/\/84396355"}],"msid":84399109,"entity_type":"ARTICLE","title":"Paytm Payments Bank to enable international remittances","synopsis":" Paytm Payments Bank (PPB) plans to expand into facilitating cross-border as well as domestic remittances. The bank\u2019s CEO said that the new umbrella entity (NUE), proposed by PPB and other investors, will change the pace of digital payments in the country, if approved.","titleseo":"telecomnews\/paytm-payments-bank-to-enable-international-remittances","status":"ACTIVE","authors":[{"author_name":"Mayur Shetty","author_link":"\/author\/5033\/mayur-shetty","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/5033.cms?width=100&height=100&hostid=268","author_additional":{"thumbsize":true,"msid":5033,"author_name":"Mayur Shetty","author_seo_name":"Mayur-Shetty","designation":"Editor","agency":false}}],"Alttitle":{"minfo":""},"artag":"TNN","artdate":"2021-07-14 10:08:49","lastupd":"2021-07-14 10:09:31","breadcrumbTags":["Paytm payments bank","RBI","paytm","MVAS\/Apps","national payments corporation of india","bharat bill payment","upi"],"secinfo":{"seolocation":"telecomnews\/paytm-payments-bank-to-enable-international-remittances"}}" data-news_link="//www.iser-br.com/news/paytm-payments-bank-to-enable-international-remittances/84399109">
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