Online mobile payments firm Paytm is shutting down its Canada business nearly t

Posted by harsh sultayia on January 15th, 2022

Online mobile payments firm Paytm is shutting down its Canada business nearly two months after sinking on public request debut in India.

\"During these unknown times we\'ve had to make some tough business opinions. Unfortunately, as of March 14 the Paytm Canada App will be shutting down permanently. Effective January 14, we will be disabling listed payments and top-ups for Paytm Cash which includes EMT transfers, Canada Post and bank transfers,\"the company said in a blog post.

\"Any bill payments that are submitted or that have beenpre-scheduled over the coming 30 days will be accepted,\"it added.

 The company has suggested that guests use available balance in their portmanteau to pay bills or do gift card purchase rearmost by March 14.

 This comes after Paytm had expanded to Toronto, Canada in 2014 starting Paytm Labs Inc as a exploration and development division.

 In 2017, it launched the Paytm Canada app, a consumer- facing mobile app allowing Canadians to pay their bills using multiple payment options. It also opened an office in Montreal in the summer of 2019.

 It was not incontinently clear if the exploration and development unit in Canada will continue.

 Also, moment shares of Paytm proprietor One97 Dispatches on Friday recovered losses after slipping below Rs for the first time since listing.

 The stock, declining for the ninth successive session, hit a record low of Rs 995 a share in the opening but recovered losses soon to go over 2 advanced. At 10 am, the scrip was trading at Rs on the BSE, up3.14 from its former close.

 Since listing, shares of Paytm have lost over 50, eroding over Rs crore as dealers remained conservative amid continued downgrades by brokerage enterprises. Precious valuations, anticipated morals on digital payment regulations and top operation adoptions have fuelled enterprises among investors.

At the India Digital Summit lately, Paytm author Vijay Shekhar Sharma said the company should be benchmarked againstnon-banking fiscal services firm Bajaj Finance, raising eyebrows for making the comparison.

 The stock, declining for the ninth successive session, hit a record low of Rs 995 a share in the opening but recovered losses soon to go over 2 advanced. At 10 am, the scrip was trading at Rs on the BSE, up3.14 from its former close.

 Since listing, shares of Paytm have lost over 50, eroding over Rs crore as dealers remained conservative amid continued downgrades by brokerage enterprises. Precious valuations, anticipated morals on digital payment regulations and top operation adoptions have fuelled enterprises among investors.