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Paytm Payments Bank Launches Mobile Banking App. Paytm Payments Bank Limited (PPB) has today declared the launch of its mobile banking app that offers users fast, effortless & secured access to their bank account on the go. The new app is presently available for download on the Google Play store and shall shortly be available on the Apple app store as well.
With an easy, & intuitive navigation, the mobile app can enable customers to check their balances, raise a request for physical debit cards, access digital debit cards, etc. Customers also will be able to receive 24×7 help and support through Paytm mobile banking app.
The new app is the latest addition to PPB’s list of efforts to bring millions of under-banked Indians to the economic mainstream. Launched in might 2017, currently, the bank has registered over 43 Million saving bank customers. PPB has already issued over two Million physical debit cards. additionally, the virtual open-end credit has been given to all 43 million saving bank customers. PPBL debit card has a built-in security feature of enabling /disabling it simply by one click within the app to secure against the misuse of the debit card by any miscreant. it’s pertinent to notice that nos. of digital transactions through Paytm Payments Bank Limited (PPB) debit cards are twice than that of cash transactions.
Paytm Payments Bank customers enjoy free banking services and earn an annual interest of 4 on their savings. Paytm Payments Bank includes an extremely secure infrastructure and allows its customers to deposit up to Rs one lakh in their savings account and/or wallet. Any amount exceeding the limit of Rs one lakh is automatically converted into a fixed Deposit via auto sweep with PPB’s partner bank, allowing customers to earn up to 8 p.a. interest on their fixed Deposit amount. The customer will instantly redeem the desired quantity in their fixed Deposit at any time free of charge.
Speaking on the occasion, Satish Kumar Gupta, MD & CEO Paytm Payments Bank said, “The new Paytm app has been introduced exclusively for its bank’s customers to provide a wide range of banking services during a phased manner. the purpose of the new app is to segregate its operations from the present application that caters to customers of many cluster entities. However, PPB customers can continue to serve its customers on its older app should its customers desire so. each app can co-exist”
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