Paytm Payments Bank transfers bill payment operations to Euronet Services

Paytm Payments Bank (PPBL) has transferred its bill payment operations to Euronet Services India after it recently shifted its retail point of sales operations to RBL Bank and the settlement of merchant payments to Axis Bank.

Euronet, an American payment technology company, manages backend settlement systems for various digital payment methods in India.

The Economic Times (ET) cited a source as saying that following the directive for Paytm Payments Bank to cease its services, they needed to transition to another provider, with Euronet assuming control of the business.