The fintech startup’s recurring card payments service has had a tepid start, failing to win much market share from rival BillDesk’s SiHub.
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They were the app’s flagship feature until the RBI shut down new deposits into Paytm wallets a year and a half ago.
With Fullerton acquiring a controlling stake last year, the fintech startup has seen an overhaul of the current leadership, trimmed loan disbursements and a halt in product rollouts.
The decade-old company is reportedly planning to venture into food delivery and fintech. Its no-commission model might just come in handy for its expansion plans.