BENGALURU: Consumers can still load money into a Paytm wallet even if they haven’t completed their Know-Your-Consumer (KYC) formalities. Paytm appears to be working around the latest directive of the RBI for mandatory KYC, where users can load money into their accounts through gift vouchers on the platform.

But these gift vouchers won’t let you send money to others or send it back to your bank accounts.

Digital payment major Paytm announced that it has registered 68 million Unified Payments Interface (UPI) transactions in February, 2018, thus emerging as the largest contributor to the overall volume of UPI transactions.

In December last year Paytm had contributed 33 million to the overall transaction volume for UPI, which rose to 51 million in January 2018 and 68 million in February.

The Singapore Tourism Board (STB) announced its strategic partnership with Paytm, a homegrown mobile-first financial services platform, thus making STB the first National Tourism Organisation (NTO) to partner with the latter.

As a part of this partnership, Paytm would run joint promotions on its platform to promote Singapore tourism. This will bring Singapore's tourism offerings to Paytm's 300 million strong users.

On a rapid expansion mode mobile fintech major Paytm has launched two more firms with an aim to enter the insurance sector in the country.

This move has taken its total count of companies to six.

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