Paytm to transfer wallet to payment bank on May 23

BENGALURU: One97 Communications, the parent company of digital payments player Paytm, will be transferring the wallet business to the Paytm Payments Bank Ltd on 23 May, when the bank’s operations will be launched, the company has told its customers.

The Vijay Shekhar Sharma–founded company announced earlier this week that the payment bank was set to start operations on 23 May. Customers will have the option of discontinuing their wallet services by sending communication to the company ( before May 23rd.

The wallet money will be transferred to the Paytm Payments Bank once the wallet business becomes part of the new company.

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