Village Voice News

“Now, Tomorrow & Always”: Paytm Guarantees That Its Soundbox & QR Code Will Continue to Function After March 15

<p>The business that manages payments and financial services under the Paytm name, One97 Communications Limited (OCL), has started a new print ad campaign to reassure customers and merchants that its card machine, soundbox, and QR code will function “today, tomorrow, and forever.”</p>
<p><img decoding=”async” class=”alignnone wp-image-424065″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-now-tomorrow-amp-always-paytm-guarantees-that-its-soundbox-amp-qr-code-will-contin.jpg” alt=”theindiaprint.com now tomorrow amp always paytm guarantees that its soundbox amp qr code will contin” width=”1002″ height=”668″ title=”"Now, Tomorrow & Always": Paytm Guarantees That Its Soundbox & QR Code Will Continue to Function After March 15 27″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-now-tomorrow-amp-always-paytm-guarantees-that-its-soundbox-amp-qr-code-will-contin.jpg 510w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-now-tomorrow-amp-always-paytm-guarantees-that-its-soundbox-amp-qr-code-will-contin-150×100.jpg 150w” sizes=”(max-width: 1002px) 100vw, 1002px” /></p>
<p>Paytm reaffirmed that it intends to continue offering its cutting-edge payment methods. The business also expressed gratitude to its partners in digital India, who assisted it in dispelling any rumors.</p>
<p>The advertisement further requested that readers and its user base go to RBI FAQs 21 and 22, which address inquiries from retailers and customers about the Paytm QR code, Soundbox, and Card Machines.</p>
<p><strong>from the RBI Frequently Asked Questions</strong></p>
<p>Q21: As a merchant, I take payments using a Paytm soundbox, Paytm QR code, or Paytm POS terminal that is connected to a different bank account and not Paytm Payments Bank. Is it possible for me to use this configuration beyond March 15, 2024?</p>
<p>Indeed. You may make use of this arrangement even after March 15, 2024, provided that your receipt and transfer of payments are associated with a bank account other than Paytm Payments Bank.</p>
<p>Q22: As a merchant, I take payments using a Paytm soundbox, Paytm POS terminal, and Paytm QR code that are all connected to my Paytm Payments Bank wallet or bank account. Is it possible for me to use this configuration beyond March 15, 2024?</p>
<p>No, other from refunds, cashbacks, sweep-ins from partner banks, and interest, you won’t be able to get any credit into your Paytm Payments Bank bank account or wallet after March 15, 2024. To prevent any trouble or interruption, it is advised that you get a new QR code to accept payments that is connected to an account with a different bank or wallet. Via your service provider, you may also modify the information associated with your bank account, which is where you receive payments.</p>
<p>“We have always been at the vanguard of the digital revolution in India, having invented the soundbox, QR code, and mobile payments there. With the launch of this campaign, “India’s every Paytm QR & Soundbox will keep working Today, Tomorrow, Always,” we want to debunk any misconceptions and reassure merchant partners that our cutting-edge products will still enable easy payments. A Paytm representative said as much.</p>
<p>According to Paytm, retailers have embraced its payment gadgets widely, making it possible for small and medium-sized enterprises to expedite payments.</p>
<p>Paytm Payments Bank (PPBL) was instructed by the Reserve Bank of India on January 31 to cease taking deposits or top-ups in any client accounts, wallets, FASTTags, and other instruments after February 29.</p>
<p>Nevertheless, in contrast to the previous decision made on February 29, the RBI subsequently extended deadlines for a number of business limitations pertaining to Paytm Payments Bank Ltd (PPBL) by 15 days, till March 15, 2024. Certain services, such as cash transfers and top-ups, now have extended deadlines; the remaining PPBL services will close on February 29 alone.</p>