The provided information outlines the recent performance of Paytm Share stock and developments related to its operations and partnerships. Here’s a breakdown:
1. Stock Performance: Paytm Share stock has seen a significant decline. It fell by 4.98% to reach ₹334.35 on the Bombay Stock Exchange (BSE) on the day in question. This decline is part of a broader trend, with the stock having fallen by 17% over the course of a four-day selloff. Moreover, the stock is down by 66.50% from its 52-week high of ₹998.30, which was reached in October of the previous year.
2. UPI Certification and Partnerships: Despite the decline in stock price, there are developments regarding Paytm Share operations. The National Payments Corporation of India (NPCI) is reportedly working to certify Paytm’s application to become a third-party payment app. This certification would enable customers to continue using the Paytm app for payments via the Unified Payments Interface (UPI). Additionally, it was reported that four major banks, namely Axis Bank, YES Bank, HDFC Bank, and State Bank of India (SBI), would support Paytm’s consumer-facing UPI payments. These banks are expected to issue fresh handles from the backend, and customers will eventually be migrated to each of the four banks to ensure balanced pressure distribution among them.
3. March 15 Deadline: There’s a reference to Paytm Payments Bank ceasing operations by March 15. However, a Paytm spokesperson reassured that despite this deadline, One97 Communications and its services, including the Paytm Share app and merchant devices like Paytm QR, Soundbox, and Card Machines, continue to function without interruption. Furthermore, Paytm Share is expanding its financial services distribution platform in collaboration with leading institutions.
The Paytm Share stock fell 4.98 per cent today, hitting a low of ₹334.35 on the Bombay Stock Exchange (BSE). This decline adds to the four-day selloff during which the stock has fallen by a total of 17 per cent. Furthermore, the stock is currently down by 66.50 per cent from its 52-week high of ₹998.30 reached in October of the previous year.
As for the developments related to Paytm’s operations ahead of the March 15 deadline, Paytm’s spokesperson stated that One97 Communications and its services, including the Paytm app and various merchant devices like Paytm QR, Soundbox, and Card Machines, continue to operate without interruption. Additionally, they mentioned that Paytm is expanding its financial services distribution platform in collaboration with leading institutions.
Overall, while the stock has experienced a decline, Paytm is actively engaged in securing partnerships and ensuring the continuity of its services, especially in the context of regulatory changes such as the March 15 deadline for Paytm Payments Bank.
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