The RBI website shows that Eko Financial Services got its license in March 2015 and is valid up to March 2020. Card Pro Solutions and Paul Fincap’s licenses were issued in June 2015 and are valid up to June 2020.
The company was given the license in April and is valid till up to June 30, 2020.These wallets are most flexible, allowing users to buy services and products by, withdrawing cash from banking networks. These Semi Closed wallets from RBI can only exist with the support of banks and need to take permission from RBI before launching. This RBI recognized semi-closed wallet allows you to use your Paytm Cash for paying postpaid mobile, landline, data card and utilities bills too, in addition to prepaid recharges on Paytm. You can use it for instant transactions across all Paytm platforms: website, mobile site, apps, and also via SMS and phone call. The All-New Paytm Cash Wallet spells more convenience and a better experience for our customers, with the same old trust. With it, you will enjoy an easy recharge and bill payment experience without having to enter payment details again and again. Also in it, your money is as safe as in a bank! This is what the RBI license assures you.