Amid the intensifying crisis after the Reserve Bank of India’s curb, Paytm confirmed that its services as a payment option remain active and fully operational.

In light of recent inquiries and speculations concerning Paytm’s availability as a payment method on service providers including Uber, Swiggy, Zomato and other platforms, Paytm has come forward to address and clarify the situation for its users and stakeholders.

“The notion that Uber or any service provider is discontinuing Paytm as a payment option is incorrect,” stated a Paytm spokesperson.

“Our payment gateway continues to process transactions for Uber as well as other service providers as a key payment aggregator, and we proudly maintain our status as a preferred payment partner. Additionally, users have the option to use Paytm UPI for their transactions.”

In addition to reaffirming its role with service providers, Paytm clarified that, “The RBI directive pertains to Paytm Payments Bank. Nevertheless, the Paytm Payments Bank wallet remains an available payment method for digital services, allowing users to use their existing balance, though they will not be able to add funds or receive credits (outside of cashback or refunds) after March 15.”

The company also addressed concerns related to the use of Paytm across other popular applications.

“Our engagement with all service providers remains unchanged. Users can continue to use their Paytm Payments Bank wallet across popular apps, provided the wallet balance covers the transaction. If the balance is insufficient, users have until March 15th to top up their wallets according to recent regulatory directives. Direct loading from some external merchants is being adjusted, ensuring transactions can still be completed with a sufficient wallet balance,” the Fintech company said in a statement.

Paytm was committed to ensuring that its users across the country continue to enjoy the convenience and reliability of its services, irrespective of the evolving regulatory environment, it said.

The company’s efforts to comply with the RBI’s directives while minimising impact on user experience underscore its dedication to customer satisfaction and regulatory adherence, the company stressed.