{"id":1279464,"date":"2024-02-28T11:13:37","date_gmt":"2024-02-28T05:43:37","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1279464"},"modified":"2024-02-28T11:13:57","modified_gmt":"2024-02-28T05:43:57","slug":"71-merchants-will-keep-using-paytm-despite-rbi-notice-only-13-left-paytm-survey-results","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/71-merchants-will-keep-using-paytm-despite-rbi-notice-only-13-left-paytm-survey-results\/","title":{"rendered":"71% Merchants Will Keep Using Paytm Despite RBI Notice; Only 13% Left Paytm! (Survey Results)"},"content":{"rendered":"\n<p>In the wake of the recent RBI directive concerning Paytm Payments Bank, a comprehensive survey conducted by Datum Merchant Survey for Payment Apps sheds light on merchant sentiments and behaviors regarding payment applications in India. The findings provide valuable insights into the impact of the directive on merchant preferences and the continued dominance of Paytm despite regulatory challenges.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"465\" src=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/02\/Untitled-design-10-1-1.jpg\" alt=\"71% Merchants Will Keep Using Paytm Despite RBI Notice; Only 13% Left Paytm! (Survey Results)\" class=\"wp-image-1279469\" srcset=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/02\/Untitled-design-10-1-1.jpg 1000w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/02\/Untitled-design-10-1-1-300x140.jpg 300w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/02\/Untitled-design-10-1-1-768x357.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/figure>\n\n\n\n<p><strong>Survey Methodology<\/strong><\/p>\n\n\n\n<p>The survey, conducted from February 7th to February 15th, 2024, involved 2,000 merchants across 12 cities in India. Respondents were queried about their current usage of payment apps, their reactions to the RBI directive, and their future plans regarding payment methods.<\/p>\n\n\n\n<p><strong>Dominance of Paytm Despite Regulatory Challenges<\/strong><\/p>\n\n\n\n<p>Despite the RBI directive issued on January 31, 2024, which outlined specific instructions for Paytm Payments Bank, Paytm remains the leading payment app among merchants, with a staggering 76% of merchants utilizing it for accepting payments. This statistic underscores the enduring popularity and widespread adoption of Paytm among merchants across India.<\/p>\n\n\n\n<p><strong>Popular Payment Apps Among Merchants<\/strong><\/p>\n\n\n\n<p>While Paytm maintains its leading position, other payment apps also enjoy considerable popularity among merchants. PhonePe emerges as the second most popular payment app, with 41% of merchants using it, followed by Google Pay at 33%, and BharatPe at 18%. These figures highlight the diversity of payment options available to merchants and the competitive landscape of the digital payment market.<\/p>\n\n\n\n<p><strong>Impact of RBI Decision on Payment Methods<\/strong><\/p>\n\n\n\n<p>Despite the RBI directive, a significant proportion of merchants, accounting for 59%, continue to utilize Paytm for their payment transactions. However, 13% of merchants have opted to switch to alternative payment apps in response to the regulatory changes. This indicates a degree of flexibility among merchants in adapting to evolving regulatory environments and exploring alternative payment solutions.<\/p>\n\n\n\n<p><strong>Engagement with Paytm Post-Directive<\/strong><\/p>\n\n\n\n<p>Following the RBI decision, a notable number of merchants, comprising 72%, reported receiving outreach from Paytm representatives. Moreover, an overwhelming majority of these merchants, accounting for 71%, expressed confidence in continuing to use Paytm for their payment needs. This proactive engagement by Paytm reflects its commitment to addressing merchant concerns and maintaining trust amidst regulatory challenges.<\/p>\n\n\n\n<p><strong>Utilization of Paytm Soundbox and Financial Services<\/strong><\/p>\n\n\n\n<p>Interestingly, the survey also reveals that 39% of merchants are utilizing Paytm Soundbox for accepting payments, demonstrating the widespread adoption of innovative payment solutions offered by Paytm. Additionally, 5% of merchants have availed themselves of financial services such as loans through the Paytm app, indicating the platform&#8217;s expanding ecosystem and its role beyond payment processing.<\/p>\n\n\n\n<p><strong>Limited Impact on Merchant Businesses<\/strong><\/p>\n\n\n\n<p> Overall, the survey suggests that the impact of the RBI directive on merchant businesses is relatively limited, with the majority of merchants continuing to use Paytm and expressing confidence in its reliability. Paytm&#8217;s proactive engagement with merchants and the availability of alternative payment options contribute to mitigating any potential disruptions to merchant operations.<\/p>\n\n\n\n<p><strong>Conclusion<\/strong><\/p>\n\n\n\n<p>The findings of the Datum Merchant Survey for Payment Apps offer valuable insights into merchant sentiments and behaviors in response to the RBI directive on Paytm Payments Bank. Despite regulatory challenges, Paytm maintains its dominance in the digital payment landscape, with merchants expressing confidence in its services. Moving forward, ongoing engagement between payment app providers and merchants will be crucial in navigating regulatory changes and ensuring a seamless payment experience for businesses across India.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the wake of the recent RBI directive concerning Paytm Payments Bank, a comprehensive survey conducted by Datum Merchant Survey for Payment Apps sheds light on merchant sentiments and behaviors regarding payment applications in India. The findings provide valuable insights into the impact of the directive on merchant preferences and the continued dominance of Paytm [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":1279469,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[765,185],"class_list":["post-1279464","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-paytm","tag-rbi"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>71% Merchants Will Keep Using Paytm Despite RBI Notice; Only 13% Left Paytm! (Survey Results) - Trak.in - Indian Business of Tech, Mobile &amp; Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/71-merchants-will-keep-using-paytm-despite-rbi-notice-only-13-left-paytm-survey-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"71% Merchants Will Keep Using Paytm Despite RBI Notice; Only 13% Left Paytm! (Survey Results) - Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"og:description\" content=\"In the wake of the recent RBI directive concerning Paytm Payments Bank, a comprehensive survey conducted by Datum Merchant Survey for Payment Apps sheds light on merchant sentiments and behaviors regarding payment applications in India. The findings provide valuable insights into the impact of the directive on merchant preferences and the continued dominance of Paytm [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/trak.in\/stories\/71-merchants-will-keep-using-paytm-despite-rbi-notice-only-13-left-paytm-survey-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-28T05:43:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-28T05:43:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/02\/Untitled-design-10-1-1.jpg\" \/>\n<meta name=\"author\" content=\"Mohul Ghosh\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mohul Ghosh\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/trak.in\/stories\/71-merchants-will-keep-using-paytm-despite-rbi-notice-only-13-left-paytm-survey-results\/\",\"url\":\"https:\/\/trak.in\/stories\/71-merchants-will-keep-using-paytm-despite-rbi-notice-only-13-left-paytm-survey-results\/\",\"name\":\"71% Merchants Will Keep Using Paytm Despite RBI Notice; Only 13% Left Paytm! 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