Paytm loses charm as kiranas turn to other payment apps after RBI directive
Fri, Feb 9, 2024 12:49 PM

Paytm loses charm as kiranas turn to other payment apps after RBI directive

A Flip by Shubhangi Gupta
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Indian kirana store owners are turning to other payment apps following restrictions imposed by RBI on Paytm Payments Bank. Within a week of the announcement, 42% of stores have switched to alternative apps, with PhonePe being the most preferred choice. A survey also reveals a decline in trust for Paytm and a growing trend towards cashless transactions at local stores in states like UP and Bihar.

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