Paytm Introduces Automatic Recurring Payments

Paytm introduced automatic recurring payments, a new feature that lets users configure the payments app to pay for periodic recurring expenses automatically. Similar to standing instructions for bank accounts, the ‘My Payments’ feature can be used for high-value payments for a variety of cases.

The company expects the feature to significantly boost bank-to-bank transactions on Paytm, which it sees crossing Rs60,000 crore a month by December 2018. Currently, Paytm processes about 1 billion transactions every quarter.
Source- The Livemint

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-
  • Paytm Payments Bank is owned 51 percent by Paytm founder Vijay Shekhar Sharma and 49 percent by One97 Communications Limited.

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