Continue to accept payments today, tomorrow & always. Paytm Karo.
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Paytm QR, Soundbox and Card Machine
Q. Will my Paytm QR code, Paytm soundbox or Paytm Card Machine continue to work?
A. Yes, Your Paytm QR, Soundbox, Card machine will continue to work as always.
Payments through Card Machine and QR
Q. What will be the impact on payments through Card Machine or QR?
A. The Reserve Bank of India (RBI) directive pertaining to our associate company Paytm Payments Bank Ltd. (PPBL) does not have any impact on the operations of One97 Communications Limited (OCL). Be assured of experiencing safe, secure, and lightning-fast payments along with seamless business operations with Paytm Card Machine and QR. There won't be any impact on you or your end customers. If your QR code, Paytm Soundbox, or Paytm Card Machine is linked to any Bank account other than Paytm Payments Bank, there is no change for you. If they are linked to a Paytm Payments Bank Account, then you will have to link the same to a Bank account of another bank.
Paytm Payments Bank account
Q. How to change my settlement bank account?
A. You can change your Paytm Payments Bank account to any other bank account in a few simple steps-
Step 1: Open the ‘Change settlement account’ page through the business profile or settlement settings option on the left menu
Step 2: Click on the change button on your settlement account
Step 3: Choose an existing account, click save and enter OTP or select Add a new bank account option and then enter the necessary details.
Settlement Account
Q. I am unable to change my settlement account. What should I do?
A. We deeply regret the inconvenience caused to you. If you are unable to change your Paytm Payments Bank account to any other account, please visit the help section on our Paytm for Business App and we will be happy to assist you.
Timely & Secure Settlements
Q. Will my money get settled without issues in my PPBL bank account?
A. Your Paytm Payments Bank Settlement account is blocked, as per the recent guidelines/notification issued by RBI dated January 31, 2024, in this regard. To continue receiving money, change your settlement account now. Don’t worry, your money is safe with us.
We recommend that you change your settlement account in the Paytm for Business app from existing Paytm Payments Bank Ltd., to any of your other accounts held with other banks to ensure seamless settlements.
Your money is safe with us
Q. Is my Paytm account going to be closed, what will happen to my money?
A. The Reserve Bank of India (RBI) has issued a directive restricting Paytm Payments Bank Account/Wallet from accepting new deposits or allowing credit transactions. There is no restriction on the withdrawal of money from your existing balance.
The RBI's directive does not impact your existing balances in your Account or Wallet and your money is safe with the Paytm Payments Bank.
If you hold a Paytm Payments Bank Account as your settlement account then, please visit the Paytm for Business App to change it to another Bank and continue receiving your payment settlements smoothly. If you have any other bank account as your settlement account then your payments and settlements will happen regularly without any interruptions at all.
Recharge & Bill payments
Q. Can I continue to use Paytm to do recharges and pay my bills?
A. Yes, absolutely! You can continue using Paytm App for all your bill payments and recharges, like always.
Rest assured, Paytm continues to support a wide range of payment options for your convenience.
Other Services
Q. Will I be able to continue booking tickets( travel, movies etc )
A. All other services on Paytm App are unaffected, you can continue to use them on Paytm as usual.
Wallet
Q. Can users continue to use Paytm Payments Bank Wallet ?
A. Users will not be able to make any deposits in the Paytm Payments Bank wallet, they can continue to use their existing wallet balances.
