#PayTm

[paytmbucks]

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[bitxhbanana]

paytm ne mujhe cash back kyun ni diya??

kya itna bura hu mein ma???

[furiouslovepolice]

25+ Mobile Banking Payment Gateways for WooCommerce

https://codecanyon.net/item/mpesa-mobile-payment-for-woocommerce/19226241

Let your buyers pay from their Mobile phone. Add one or more extra payment options in WooCommerce.

This plugin adds one or more additional payment methods. So from now on Buyers will be able to buy products from WooCommerce website and pay with comfort. We offer all these in this single WordPress PlugIn :

M-Pesa Payment Gateway for WooCommerce, WeChat Pay Payment Gateway for WooCommerce, Alipay Payment Gateway for WooCommerce, PhonePe Payment Gateway for WooCommerce, MangoPay Payment Gateway for WooCommerce, MobiKwik Payment Gateway for WooCommerce, Orange Money Payment Gateway for WooCommerce, GrabPay Payment Gateway for WooCommerce, Airtel Money Payment Gateway for WooCommerce, Gcash Payment Gateway for WooCommerce, Venmo Payment Gateway for WooCommerce, MTN Mobile Money Payment Gateway for WooCommerce, TrueMoney Payment Gateway for WooCommerce, KakaoPay Payment Gateway for WooCommerce, Revolut Payment Gateway for WooCommerce, Wave Money Payment Gateway for WooCommerce, Gojek Payment Gateway for WooCommerce, MobilePay Payment Gateway for WooCommerce, Paytm Payment Gateway for WooCommerce, Vipps Payment Gateway for WooCommerce, Swish Payment Gateway for WooCommerce, PayNow Payment Gateway for WooCommerce, PayPay Payment Gateway for WooCommerce, Line Pay Payment Gateway for WooCommerce, Ooredoo Money Payment Gateway for WooCommerce, PayMate Payment Gateway for WooCommerce, Tigo Money Payment Gateway for WooCommerce

Simply activate the options that best suit your store’s requirements and your customers’ needs based on your location.

[keralatimesnews]

ഗൂഗ്ള്‍പേയും ഫോണ്‍പേയും പേയ്ടിഎമ്മും ഇനി വിയര്‍ക്കും, പോരാടാന്‍ വരുന്നത് ചില്ലറക്കാരനല്ല

[todayworldnews2k21]

Paytm Shares Jump 6.50% On Getting NPCI Nod To Onboard New UPI Users

New Delhi: Shares of One97 Communications, the parent of Paytm, on Wednesday surged 6.50 per cent after the National Payments Corporation of India (NPCI) granted approval to Paytm to onboard new UPI users, subject to the adherence to all procedural guidelines and circulars. The stock jumped 6.34 per cent to Rs 730.90 on the BSE. At the NSE, it soared 6.51 per cent to Rs 731.15. The NPCI nod is…

[prcg]

Paytm de India obtiene aprobación para reanudar el crecimiento de pagos

Paytm, una empresa líder en servicios financieros de la India, recibió la aprobación regulatoria para reanudar la incorporación de nuevos usuarios de pagos UPI, luego de una restricción de ocho meses en muchas de sus operaciones. UPI, que procesa más de 15 mil millones de transacciones mensuales, domina los pagos en línea de la India. PhonePe y Google Pay, propiedad de Walmart, procesan alrededor…

[knowledgescribe2]

[aniyaanv]

Happy New Year! 🎆🖤✨

[voiceofentrepreneur]

Paytm prioritizing consumer payments business: CEO

A senior company official stated on Sunday that Paytm, a fintech company, is prioritizing investments in its consumer payments division in an attempt to regain lost users as a result of RBI regulatory steps.

Paytm Payments Bank was not allowed to take deposits or process credit transactions in consumer accounts, including prepaid instruments and wallets, according to the RBI.

For Rs 2,048 crore, Paytm sold its ticketing division to foodtech company Zomato in August in order to concentrate more on its main business of distributing financial services and making payments. Read More -- https://voiceofentrepreneur.life/

[rightnewshindi]

सलाम, सर, ओके, टाटा, बाय-बाय; पेटीएम के फाउंडर विजय शेखर शर्मा की पोस्ट पर भड़के लोग; जानें क्यों

#RatanTata #VijaySharma #Paytm सलाम, सर, ओके, टाटा, बाय-बाय; पेटीएम के फाउंडर विजय शेखर शर्मा की पोस्ट पर भड़के लोग; जानें क्यों

Paytm Founder Vijay Shekhar Sharma: रतन टाटा के निधन से देश शोक में डूबा है। देश और दुनिया की तमाम हस्तियों ने अपने तरीके से सोशल मीडिया प्लेटफॉर्म पर रतन टाटा को याद किया। इसमें फिनटेक कंपनी पेटीएम के फाउंडर विजय शेखर शर्मा भी शामिल थे। हालांकि, विजय शेखर शर्मा ने रतन टाटा को श्रद्धांजलि देते हुए सोशल मीडिया प्लेटफॉर्म एक्स पर जो लिखा उसकी आलोचना होने लगी। क्या लिखा था विजय शेखर शर्मा…

[kimskashmir]

India's Paytm's payments services arm receives government approval

BENGALURU — India’s Paytm (PAYT.NS), opens new tab has received an approval from the finance ministry to invest in its payment services business, the fintech firm said on Wednesday. One 97 Communications, popularly known as Paytm, has been under the scrutiny of India’s banking regulator and financial crime-fighting agency after the central bank ordered it to wind down its payments bank in…

[findtek]

Zomato Acquires Paytm's Ticketing Business for ₹2,048 Cr

Zomato has officially approved the acquisition of Paytm’s entertainment ticketing business for a substantial ₹2,048 crore. This move marks a significant expansion for Zomato as it seeks to enhance its offerings in the entertainment sector. The acquisition includes Paytm’s movie ticketing business, operated through its subsidiary One 97 Communications, and its sports and events ticketing business,…

[jjtax]

The Paytm Fallout

Since its inception in 2010, Paytm has been a groundbreaker in India's fintech industry, revolutionizing digital payments and e-commerce with its innovative platform. The 2016 demonetization drive significantly accelerated its growth. By 2017, Paytm took a major leap by launching Paytm Payments Bank, aiming to integrate digital wallet convenience with traditional banking services and enhance financial inclusion for millions. However, by early 2024, Paytm Payments Bank faced a dramatic downfall.

In this post, we will dissect the factors behind the collapse of Paytm Payments Bank and offer insights into maintaining compliance in the dynamic digital finance sector.

Analyzing the Factors Behind Paytm Payments Bank’s Collapse

Paytm Payments Bank's challenges began emerging in 2016 with a lawsuit filed by PayPal at the Indian Trademark Office. PayPal accused Paytm of mimicking its logo’s color scheme and design, which significantly impacted Paytm’s reputation and revealed its lax approach towards intellectual property.

The situation further deteriorated in 2018 when an undercover video surfaced, capturing a conversation between a journalist and Paytm’s Vice President. The video alleged that Paytm was compromising user privacy by sharing private data with the Indian government. This controversy was exacerbated by claims that Ajay Shekhar Sharma, the Vice President's brother, had close ties with the ruling political party. Despite Paytm's public denials and assurances of no data sharing with third parties, the damage to its image was considerable.

The most severe blow came in 2020 when Google temporarily delisted the Paytm app from the Play Store due to violations of its gambling policies. This incident drew significant regulatory attention, exposing concerns about Paytm's oversight of financial transactions and regulatory compliance. The app’s removal underscored vulnerabilities in Paytm’s data management and security practices.

Further scrutiny revealed that Paytm Payments Bank had shared user data with Chinese entities that had indirect stakes in the company. This raised serious concerns for the Reserve Bank of India (RBI), leading to a directive in March 2022 that prohibited Paytm Payments Bank from acquiring new customers due to lapses in data security and management practices.

The final blow was delivered in January 2023 when the RBI mandated the closure of Paytm Payments Bank by February 2024. This decision resulted from findings that Paytm Payments Bank had failed to conduct proper due diligence on the sources of funds during customer onboarding, marking a severe compliance breach that further eroded investor and stakeholder confidence.

Government and Regulatory Responses

In reaction to these events, the Indian government and the RBI implemented stricter regulations. The RBI introduced enhanced measures for data privacy and security for digital payment platforms, requiring rigorous background checks before onboarding clients.

Additionally, the government imposed stricter regulations on foreign investments in Indian fintech, particularly from countries deemed security risks, to safeguard national interests and user data.

The RBI also mandated regular audits for digital payment companies, enabling prompt corrective actions to address any lapses in data security or financial management.

Maintaining Compliance in the Fintech Industry

For fintech companies, adherence to regulatory requirements is essential to maintaining trust and avoiding legal issues.

Essential Compliance Strategies Include

Strong Data Privacy Policies: Develop and enforce comprehensive data protection policies to ensure compliance with applicable regulations and safeguard user information.

Regular Audits and Compliance Checks: Perform consistent audits to verify proper financial management and adherence to security standards.

Staying Updated on Regulations: Keep abreast of evolving regulatory requirements and adjust practices accordingly to prevent legal complications and foster trust with clients and stakeholders.

The downfall of Paytm Payments Bank serves as a critical lesson for the fintech sector, highlighting the importance of rigorous compliance and the potential risks of neglecting data security. By learning from Paytm's experience, other companies can take proactive steps to ensure compliance and avoid similar pitfalls.

Compliance is not merely about following regulations; it’s about building a robust and trustworthy business that thrives within a regulated framework.

JJ Tax: Your Partner in Compliance

At JJ Tax, we specialize in managing the complexities of tax and regulatory compliance, allowing you to focus on growing your business. Let us handle your compliance needs, ensuring your company remains secure, compliant, and positioned for long-term success.

JJ Tax