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Paytm Unveils 'Receive Money QR Widget' for Android Users to Simplify Transactions.

Banking & Finance | Dated: 30 Jan 2025

On January 28, 2025, Noida, Uttar Pradesh (UP)-based Paytm, a subsidiary of One97 Communications Limited (OCL), introduced the 'Receive Money Quick Response (QR) Widget' for Android users, allowing them to receive payments directly from their smartphone's home screen without opening the Paytm application (app).

🎯 Key Highlights:

  • - Paytm became the first company to launch this innovative feature, which was previously introduced for iPhone users.
  • - This new widget simplifies and speeds up the payment collection process, benefiting influencers, freelancers, shopkeepers, delivery partners, and small businesses by enabling quick and efficient transactions.
  • - In January 2025, Nakul Jain announced his resignation as the Managing Director (MD) & Chief Executive Officer (CEO) of Paytm Payments Services Limited (PPSL), a subsidiary of One97 Communications Limited (OCL), to pursue his entrepreneurial journey. His resignation will be effective from March 31, 2025, or an earlier mutually agreed date.

💡 Other Important Facts:

  • (i) Nakul Jain joined PPSL in 2022, overseeing the Online Payments business. With over 21 years of experience, he has expertise in retail banking, product management, wealth management, international banking, and payments.
  • (ii) Before joining Paytm, he was part of the Management Team at Standard Chartered Bank and held leadership positions at ICICI Bank Limited and IndusInd Bank Limited.
  • (iii) On August 28, 2024, PPSL received approval from the Department of Financial Services (DFS), Ministry of Finance (MoF), for downstream investment from Paytm into PPSL. The company has applied for a Payment Aggregator (PA) license from the Reserve Bank of India (RBI) and is awaiting approval.

📚 Test Your Knowledge:

Which company recently launched the 'Receive Money QR Widget' for Android users to enable seamless payments?

Correct Answer: Paytm

🚀 Quick Recap:

About Paytm

  • CEO : Vijay Shekhar Sharma ,
  • Headquarters : Noida