Move From Paytm To Other Apps, Traders’ Body To Companies: 10 Considerations
RBI action against Bank of Payments, Paytm: Confederation of All India Traders (CAIT) has advised traders to use other payment applications instead of Paytm in order to prevent any problems when Paytm services cease on the nineteenth of February.
In a statement released today,’ the CAIT emphasized the significance of risk reduction for traders and urged them to look into alternative payment applications that abide by legal requirements .In a statement, CAIT national president BC Bhartia and secretary general Praveen Khandelwal expressed concerns over the security and ongoing provision of financial services by the platform in light of recent RBI limitations on Paytm.
Both urged Paytm users to explore direct UPI transactions or move to alternative payment applications in order to guarantee the smooth operation of transactions and protect financial assets . They mentioned that banks have their own payment applications.
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