As a result of demonetization, Paytm and many other similar applications are generating a lot of business. Demonetization has ensured that people try different medium of payment than the usual one, and Paytm proved to be one of the best, with even the Government indirectly endorsing it by pushing usage on highway tolls and etc,.
Paytm has over 150 million mobile wallet users currently. But currently the app is not available on iOS due to some bugs and other technical issues which were responsible for hindrance in proper running. Paytm is looking into the issue and has pushed an update to Apple and is awaiting their approval.
Interestingly, this comes on the heels of a string of accusations by Paypal, which blamed Paytm for copying its design. Meanwhile, the failure in service caused suffering to many users from Tuesday night and even today also similar problems were encountered.
We have currently removed the app from the App Store to stop adding incremental new users to our existing base. Today we found a bug in our iOS App where certain app users were not able to pay thereby hanging their app. Soon the system logged them out preventing them from further accessing their account.
At this time of demonetization when all other businesses are suffering from heavy losses Paytm seems to be a bigger gainer , as shortage of cash forced many people to move towards cashless transactions through these e-wallets. This issue would upset many customers and may also affect company’s business . We can expect the company to attempt to get its app back on track as soon as possible.
