Paytm denies rumour that it'll stop working post January 15
Online payments startup Paytm has denied rumours that the e-wallet will not function after January 15. "Nothing could be farther from the truth. On the contrary, Paytm Wallet users will soon enjoy additional benefits through Paytm Payments Bank Account," said the company in a blog post. Paytm's wallet business will be transferred to the newly incorporated Paytm Payments Bank.
Paytm has rubbished the rumours that say Paytm Wallet will stop working after January 15. A hoax message is doing rounds on WhatsApp  and YouTube which claims the e-wallet will not function after January 15."There are some rumors circulating that you will not be able to use the Paytm Wallet after 15th January! Nothing could be farther from the truth. On the contrary, Paytm Wallet users will soon enjoy additional benefits through Paytm Payments Bank Account," company noted on its blog.Also Read:  BHIM vs Paytm: The best cashless solution for IndiaPaytm also announced that according to the RBI guidelines, the Paytm Wallet will soon be transferred to the newly incorporated Paytm Payments Bank. Till now they were issued by One97 Communications Limited.  However, Paytm users do not need to make any changes in their Paytm wallet  as this will happen automatically. "Log in details, wallet balance and user experience will remain the same. Your Paytm Wallet experience will remain the same for all current use cases such as paying at stores, paying for Uber rides, ticketing, fuel, etc."You current Paytm wallet  will be transferred to the Paytm Payments Bank Limited as it is, i.e. KYC Wallet as KYC Wallet and minimum KYC Wallet as minimum KYC Wallet. Also, the money in your Paytm wallet will stay intact and reflect in the new Paytm Payments Bank Wallet. In case the wallet has been inactive for the last six months and has zero balance, it won't be transferred to the Paytm Payments Bank Wallet without the user's consent, which will be taken while logging into the account from the app, web or by e-mail. However, opening a new account with Paytm Payments Bank is not mandatory for all. 