100,000 'Paytm Ka ATMs' to be set up across India

Published On: 05, Dec 2017 | Source: business-standard.com

Bank today said it will set up 100,000 'Paytm Ka ATMs' across the country to enable its customers to transact on its platform.

The bank will use local banking correspondents to help customers in depositing and withdrawing money from their Bank account.

In the first phase, Paytm has started with 3,000 such points in select cities including NCR, Lucknow, Kanpur, Allahabad, Varanasi and Aligarh.

The company has also introduced a dedicated 'Bank' section on the Paytm app where it has made available a range of banking services including payments, debit card, passbook, help and support among others.

Bank has already committed Rs 3,000 crore, to be invested over the next three years, to expand offline distribution network by allowing local partners to act as potential cash-in and cash-out points.

"The Paytm Ka banking outlets is our step towards ensuring every Indian has access to banking facilities. This will enable our customers to visit their trusted neighbourhood outlet to open their bank account, deposit and withdraw cash, in addition to getting their Aadhaar linked," Bank MD and CEO Renu Satti said.