Paytm loves to surprise people many times by its offerings for users. With a record 230+ million users, and recently converted to a Payment Bank, paytm has something very interesting & innovative for its users.
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On his facebook account, Vijay Shekhar Sharma(Founder & CEO of Paytm) mentioned :
It will be a great feature Paytm users, now can pay those vendors also who doesn’t accept online paytm payments. Also, now users can frequently transact money online and can withdraw through ATMs – major benefit added to Paytm Payments Bank — India’s first bank with no charges on online transactions, no minimum balance requirement and free virtual debit card (now coming with Rupay Debit Card as well).
Now, its interesting to see, how Axis bank & Freecharge come up to cope with this competitive situation. Recently, Axis Bank acquired Freecharge in $62 Million from Snapdeal.
Banking sector & online wallets are hot sector now a days, specially after demonetization in India, the market increases exponentially (around 400%).