During a conference call on RBI guidelines to Paytm's associate bank, Bhavesh Gupta, President and COO said:

During a conference call on the RBI guidelines to Paytm's affiliated bank, Bhavesh Gupta, president and COO, said, “We will ensure minimum disruption to merchants. We will do what is the right approach in this matter.”

Mumbai: Paytm merchants do not have to worry about following the instructions from the Reserve Bank of India (RBI) to the member bank as Paytm Soundbox, QR and EDC machines will continue to work as usual and merchants can still accept payments . Paytm offers merchant acquisition services in partnership with several leading banks in the country and will continue to expand partnerships with third-party banks.

“Paytm's network offering for offline merchants and device businesses such as Paytm Soundbox, EDC and QR will remain unaffected by the Reserve Bank of India's (RBI) direction to its member bank,” the fintech company said, adding that it will also continue with onboarding salespeople to its partner bank. platform.

During a conference call on RBI guidelines to Paytm's affiliated bank, Bhavesh Gupta, president and COO, said, “We will ensure minimum disruption to merchants. We will do whatever is the right approach in this matter.”

The company also noted that its Paytm Payment Gateway (online merchants) business will continue to offer payment solutions to its existing merchants.

“There will be no disruption in PG operations and it will operate as before; now we are offering several other options to sellers, which is a very quick process,” added Gupta.

Paytm's offline payment network offerings for merchants such as Paytm QR, Paytm Soundbox and Paytm Card Machine will continue as usual, where it can also onboard new offline merchants. For its existing online merchants, the Paytm Payment Gateway company will continue to offer payment solutions.

Meanwhile, Paytm clarified that PPBL is independently run by its management and board of directors.

“We would like to take this opportunity to clarify that, as per banking regulations, Paytm Payments Bank Limited is independently managed by its management and board of directors. While OCL may have two board seats on the board of Paytm Payments Bank Limited, as part of the shareholders agreement, OCL does not exercise any influence over the operations of Paytm Payments Bank Limited except as a minority board member and minority shareholder.” Paytm said in an exchange filing.