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Paytm to permanently shut its Canada app

Friday 14 January 2022 10:53 CET | News

As of 14 January 2022, India-based digital payment solution Paytm has announced it will permanently shut down its operations in Canada. 

Starting from this date, Paytm Canada will disable scheduled payments and top-ups for Paytm Cash, including Canada Post, EMT transfers, and bank transfers. Company officials say that any bill payments submitted or pre-scheduled over the past 30 days will be accepted, while customers are encouraged to use their available wallet balance to pay bills or purchase gift cards no later than 14 March 2022.

The news come after the Indian fintech registered its decline for the ninth consecutive session, hitting a record low of approximately USD 13.40 (Rs 995). Since its market debut in November 2021, Paytm shares have dropped over 50%. 

The company launched its Canada operations in 2017 and opened an office in Montreal in 2019.

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Keywords: Paytm, mobile payments, payment processing, online payments, digital banking, e-wallet, digital wallet
Categories: Payments & Commerce | Mobile Payments
Countries: Canada
This article is part of category

Payments & Commerce