【】
我要评论What happens when the country's biggest bank, state-owned, and its largest mobile wallet firm, privately-owned and backed by Chinese investors, cannot co-exist?
India knows the answer.
SEE ALSO:Indians sign up for mobile wallets after most cash rendered uselessOver the last one week, customers using the State Bank of India's (SBI) internet banking system have been disallowed from transferring money to their Paytm wallets.
Instead, SBI has been recommending them to use its own e-wallet — State Bank Buddy. At the time of writing this, the app had notched up 5 million downloads on Google Play Store.
Credit: GOOGLE PLAY STORESurprisingly, there was no public announcement of this decision. It was revealed matter-of-factly when a Twitter user complained of not being able to refill his Paytm wallet via an SBI account.
The bank's official handle responded thus.
Tweet may have been deleted
And some other users confirmed.
Tweet may have been deleted
Tweet may have been deleted
This comes at a time when the mobile wallet landscape in India has heated up following the central government's ban on high-value currency notes that sucked out more than three-fourths of the cash in circulation almost overnight.
As a result, adoption of services like Paytm (backed by Chinese investor Alibaba), Mobikwik, Freecharge and others has grown by leaps and bounds.
SBI, the old incumbent of Indian banking, is feeling the heat from Paytm, especially because it has the millions of points-of-sale (PoS) in the country and is also on its way to becoming a payments bank.
Tweet may have been deleted
Also, SBI sees demonetization as an opportunity to push its own app, which some users have complained is not up to the mark.
Tweet may have been deleted
Tweet may have been deleted
Tweet may have been deleted
Tweet may have been deleted
Indians have already started criticizing this move by the country's largest lender and are apprehensive that this could set a precedent for other banks as well.
Tweet may have been deleted
Some have even called for the intervention of the RBI, India's federal bank.
Tweet may have been deleted
Tweet may have been deleted
We'll have to wait and watch what happens next.
Featured Video For You
This device fixes the worst thing about the new MacBook Pro
相关文章
Give your kitchen sponge a rest on this adorable bed
Our kitchen sponges do a lot of work. Don't they deserve a good night's rest?"Sure," said design stu2025-01-30
Motel has the most relatable reason for rebuilding
No matter how tough you might be, you can still be brought down by a tiny spider.Imgur user admirals2025-01-30
Indonesia livestreams Independence Day ceremony in 360 degrees, video gets stuck
Indonesia marked its Independence Day with four 360 degree livestreams from President Joko Widodo's2025-01-30
Colorado firefighter captures rare 'firenado' in Beaver Creek blaze
A wildfire in northern Colorado produced a firenado earlier this week, sending a wiry column of oran2025-01-30
U.S. pole vaulter skids to a halt for national anthem
An American pole vaulter took his patriotism to the next level at the Olympics. 。Sam Kendricks, a sec2025-01-30
Irish boxer jabs Putin on Twitter after controversial Russian win in Rio Olympics
Irish boxer Michael Conlan lost to Russia's Vladimir Nikitin by unanimous decision in the Olympics q2025-01-30
最新评论