As per RBI guidelines, your Paytm Wallet will soon be transferred to the newly incorporated Paytm Payments Bank. Till now they were issued by One97 Communications Limited. This will happen automatically, and Paytm users do not need to do anything additional. Our customers will continue to use all the services provided by the Paytm Wallet, and enjoy all the benefits . Your Paytm wallet will work as it is, even after 15th January. 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.
Not just that, Paytm Payments Bank will also soon bring additional benefits such as a bank account, chequebook and a debit card. You will also earn interest on the money available in your account.
Paytm Payments Bank Limited (PPBL) is 51% owned by Vijay Shekhar Sharma & 49% ownership is with One97 Communications Ltd. Paytm Payments Bank is a truly Indian company owned & operated by Indians.
Please note : 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.