What all of these mean now?
RBI cannot make this clearer anymore. Paytm Payments Bank is the only concern. RBI has nothing to say about Paytm super app. This indirectly implies that partners need not hesitate to do business with Paytm. As the result, Axis Bank partnered with Paytm for the nodal account.
There is one thing still not clear. RBI FAQ mentions that merchants with Paytm Payments Bank needs to change their QR code, etc setup. And no change required from merchants with other bank accounts. However, Paytm now says, having partnered with Axis Bank to shift nodal account, that QR, soundbox, etc will continue to operate for “all” their merchant partners.
It would help to know why Paytm feels that even merchants with Paytm Payments Bank account won’t need to change any of their setup (except changing the bank account from PPBL). Is shifting nodal account sufficient for this, unlike what RBI suggests to those merchants in the FAQ?
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