Hoteliers worry over curbs on Paytm Payments Bank

Feb 06 2024 09:31 AM IST
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Hoteliers in Bangalore are worried over the impact that the central bank's move is likely to have on their businesses. Several hotels use PaytmQR codes for transactions. On Monday, representatives of Bruhat Bangalore Hotels Association (BBHA) metPayTMersonnel to allay these concerns.
Hoteliers worry over curbs on Paytm Payments Bank

BENGALURU: Following the Rerserve Bank of India’srestrictive ordersonPaytm Payments Bank,hoteliersin the city are worried over theimpactthat the central bank’s move is likely to have on their businesses, given that several hotels use PaytmQR codesfor transactions – especially places that see high footfall, such as Darshinis.On Monday, representatives of Bruhat Bangalore Hotels Association (BBHA) metPaytmpersonnel to allay these concerns. They were assured that the QR code service would work if they were linked to a non-Paytm account. On Sunday, the Confederation of All India Traders had advised traders to switch from Paytm to other payment apps considering theRBIaction.BBHA president PC Rao told TOI: “Paytm officials have assured us that all services will continue unaffected. Only Paytm banking will be affected. Our regular transactions will be routed to our current account.”While there has so far been no explicit notice for customers, Rao said QR code services will continue in hotels where the bank accounts linked are non-Paytm accounts.

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