Friday morning of 18th September, came as a surprise to Indian app Paytm users when the news about the app getting mysteriously being removed floated the news forums. The app was not visible on Google Play Store when being searched. While other apps including Paytm Mall, Paytm Business and Paytm Money from the Paytm family are still there.
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Following the official Twitter handle tweeted ” Paytm Android app is temporarily unavailable on Google’s Play Store for new downloads or updates. It will be back very soon. All your money is completely safe, and you can continue to enjoy your Paytm app as normal.”
Dear Paytm'ers,
Immediate Payment Service (IMPS) is an instant payment inter-bank electronic funds transfer system in India.IMPS offers an inter-bank electronic fund transfer service through mobile phones.
Paytm Android app is temporarily unavailable on Google's Play Store for new downloads or updates. It will be back very soon.
All your money is completely safe, and you can continue to enjoy your Paytm app as normal.
— Paytm (@Paytm) September 18, 2020
Reason for the Paytm app removal
Google decided of removing the app as it allegedly violates Google’s new app norms around online gambling. Google further stated that the team working in close coordination repeatedly reach out to the developers of Paytm, to fix the issues with the app to stay compliant with the new norms of Google. However, continuous violations of the rules were made avoiding the warnings from Google.
- Ma, who has over 612K followers on Twitter, last posted on the micro-blogging platform on October 10. In his tweet, he spoke of his partnership with the Duke and Duchess of Cambridge - Prince William and Kate - and their association with the Earthshot Prize that fetes climate change warriors.
- MSMEs will now be called Micro units if they have investments upto Rs 1 crore and turnover of less than Rs 5 crore. The definition earlier was on investment criteria of up to Rs 10 lakh for Service MSMEs earlier and Rs 25 lakh or manufacturing.
- As of now there are many digital applications that have been using UPI as part of their payment methods. Among these, Paytm seems to be one of the most sought after digital payment firms that have been leading. Other players include, PhonePe, Tez, Paytm, and the like. Paytm has seen as many as 94 million UPI transactions on its app, as per reports.
What’s the big deal?
Well! Indeed a serious one…As per the Google norms, it does not allow apps to redirect users to other platforms via app. In the case of Paytm it was redirecting users to Paytm First Games. Paytm recently launched Paytm First Games that allows users to play fantasy cricket, rummy, and 300+ other games.
Is Paytm available on iOs?
The removal of the app was seen only on Google Play Store. Paytm is available on the App Store.
How was the plan executed?
Google’s Suzanne Frey – Vice President, Product, Android Security, and Privacy posted guidelines in a blog post after which the Paytm app vanishedfrom Google Store. It is also said that Google Pay which is an immediate competitor to Paytm is in a 360-degree marketing plan to concur with the market. And this was a smart move.
Another Google post stated “We don’t allow online casinos/support any unregulated gambling apps that facilitate sports betting. It includes if app leads consumers to an external website that allows them to participate in paid tournaments to win real money/cash prizes,”
Market share of Paytm and Google Pay
Paytm stands at the 3rd position in the UPI race. Google Pay and Phone Pe being the biggest app for UPI transactions. Paytm along with Mobikwik together hold about 20% market shares.
Paytm’s Parent Company
Paytm is owned by One97 Communications Ltd, founded by Vijay Shekhar Sharma in August 2010. Gradually, it received funding from various companies including fintech firm Ant Financials – an ally of China’s Alibaba group. Paytm is enjoyed by over 50 million active users in India.
While having always benefited from the use of Paytm and believe that it had made our lives much simpler when it comes to sending and receiving money. The Bill payment process had become smoother too. We are not associated with Google or Paytm and this article is just an informational piece.
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