时间:2025-04-04 09:54:12 来源:网络整理编辑:熱點
What happens when the country's biggest bank, state-owned, and its largest mobile wallet firm, priva
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.
Surprisingly, 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.
Dressage horse dancing to 'Smooth' by Santana wins gold for chillest horse2025-04-04 09:45
FCC chairman who killed net neutrality given gun and award from NRA2025-04-04 09:43
There's now a vibrator that will order you a pizza when you, um, finish2025-04-04 09:00
Three adorable sisters recreate 2018 Oscars Best Picture nominees2025-04-04 08:48
Sound the alarms: Simone Biles finally met Zac Efron2025-04-04 08:46
Oculus premiered VR films at Sundance 2018 and they all have a problem2025-04-04 08:30
There's only one good name for the next iPhone2025-04-04 08:16
Emma Watson just dropped the mic on those stories about her Time's Up tattoo2025-04-04 07:57
Carlos Beltran made a very interesting hair choice2025-04-04 07:53
Amy Schumer gave a brutally funny note to Jennifer Lawrence after breakup2025-04-04 07:46
How Hyperloop One went off the rails2025-04-04 09:45
Trump shows gun control hypocrisy in wake of latest school shooting2025-04-04 09:44
This game tells the gender wage gap to f*ck off, and it's exactly what we needed2025-04-04 09:36
#TwitterLockout blocks conservative users, requires phone number2025-04-04 09:05
Pokémon Go is so big that it has its own VR porn parody now2025-04-04 09:01
Stoneman Douglas alumni rise up in incredible ways to support shooting survivors2025-04-04 08:33
Lone soccer supporter singing for his team deserves some kind of award2025-04-04 08:20
Adam Rippon hired as NBC Winter Olympics commentator2025-04-04 08:03
Richard Branson 'thought he was going to die' in bike accident2025-04-04 07:15
Arvin Ahmadi talks grit, crosswords, and new novel 'Down and Across'2025-04-04 07:07