As Paytm becomes a bank on Jan 15, what will happen to your money in the wallet?
The money in 160 million Paytm wallets will simply be transferred to Paytm Payments Bank on 15 January.business Updated: Jan 11, 2017 14:52 IST
Over the next five days, the money in 160 million Paytm wallets will show up in a corresponding number of Paytm Payment Bank wallets as the wallet company becomes a payments bank.
As news of the change emerged, some social media chatter created panic amongst Paytm users who thought they would lose the amount in their accounts. Paytm has scotched these rumours.
What will happen to the money?