【】
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
Mom discovers security cameras hacked, kids' bedroom livestreamed
A mother in Houston, Texas woke up one morning to pretty much every parent's worst-case scenario. 。 "2025-12-15
Inside the filthy chaos of Gorillaz's Brooklyn house party pop
In Williamsburg, there are perfectly curated dirty dishes and cigarette butts on display.At The Spir2025-12-15
Your overbearing dad Mark Zuckerberg told some rough jokes at F8
In many ways, Mark Zuckerberg is like your dad.He insists on ever-increasing control of your interne2025-12-15
The art of binge-watching has already been perfected by TV addicts. But this weekend, a new kind of2025-12-15
Visualizing July's astounding global temperature records
July set a rare temperature record during a year that is featuring off the charts warmth. The month2025-12-15
Starbucks could be jumping onto the unicorn train with a new drink
Don't know if you've heard, but unicorn things are a thing right now. A huge major thing.But even if2025-12-15
最新评论