42% of Indian kirana stores have already shifted away from Paytm: Report

Since the Reserve Bank of India (RBI) announced restrictions on the Paytm Payments Bank on January 31, 42 per cent of kirana stores in India have already started using other mobile payment apps, a survey released on Thursday said. It added that another 20 per cent of the respondents said they intend to use other payment apps.

According to a survey released by Kirana Club, based on 5,000 respondents, the trust in Paytm has decreased among 68 per cent of Indian Kirana stores after the RBI announcement.

“The survey revealed another stark finding about the trust among local retailers regarding Paytm. It indicates that trust in Paytm has decreased among 68 per cent of Indian kiranas after RBI restrictions,” it said.

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