Street vendors stopped taking payment from Paytm
Sharma ji is in a bad dilemma… Suresh Sharma ji, who runs a grocery shop in a locality of Delhi, is not able to understand what to do? Ever since Reserve Bank of India has banned Paytm Payments Bank, there is a lot of confusion about what to do and what not to do, they found a simple solution that they stopped taking payments from Paytm. Shyam Babu also suffered loss due to this, he used to sell vegetables outside Sharma ji's shop and used to get online payment done at Sharma ji's shop. Now Sharma ji has stopped taking payments, so he too has had to shift cash.
This is not a story… but the truth of people doing small jobs in every other locality of India. It is not just about merchants doing small business, but even at many big shops, people are taking caution in taking payments from Paytm. After the RBI ban on Paytm Payments Bank, merchants have been most affected and they are facing a lot of uncertainty.
However, Paytm is repeatedly saying that its Sound Box, QR and UPI services are running smoothly. This will continue even after 29th February. Not only this, he also says that Paytm is also emphasizing on partnering with other banks for Fastag and other services and taking other measures. He is also advising his customers to stay away from rumors on WhatsApp.
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PhonePe-Google Pay are providing free-switch service
Meanwhile, activities of Paytm's rival companies have increased in the market. Phone Pay and Google Pay are giving such customers the opportunity of easy and free switch to their platform. Even WhatsApp is sending notifications to its customers for the payment services available on its platform. They are asking all the people to link their accounts with other banks and switch to their platform.
Not only this, the country's largest bank SBI also says that it is ready to help crores of merchant customers of Paytm Payments Bank. SBI Payments, a subsidiary of the bank, is already in touch with those merchants and we are ready to receive them at any time. The Bank is ready to provide them with its POS machines and cater to all other payment needs that they face.
CAT also advised retailers to switch
Confederation of All India Traders (CAIT), an organization of small traders, has advised traders to switch from Paytm to other platforms for transactions related to their business. CAT has said in its statement that the Reserve Bank has recently imposed restrictions on Paytm. In such a situation, traders across the country should use other platforms to protect their money.
CAT National General Secretary Praveen Khandelwal says that a large number of small traders, vendors, hawkers and women are doing transactions through Paytm and RBI's ban may cause problems to these people.
Source: www.tv9hindi.com
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