• Paytm has been in talks since the government has announced Rs.500 and Rs.1000 notes ban.
  • Paytm, the very next day had put its advertisements on the front-page of newspapers about how the app could be useful.
  • Since then, most users prefer Paytm than other wallets such as Freecharge and Mobikwik.
  • SBI has its own mobile app, Buddy, which is giving stiff competition to Paytm by putting up banners across the country on how its app is better than Paytm.
  • The banners of SBI compares on the grounds that Buddy has a semi-closed prepaid wallet which can be used to transfer money to other wallet users and bank accounts anytime anywhere.
  • Buddy and Paytm are also compared to the amount that the apps charges for transfers. Paytm charges 4% of the amount below Rs.10000 while Buddy charges only Rs.2.
  • Paytm is partly owned by Chinese company Alibaba group and Buddy is SBI’s own app.
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