Paytm partners with Axis Bank to provide payment solutions for merchants

One 97 Communications (OCL), the parent company of fintech firm Paytm, has partnered with Axis Bank to offer point-of-sale (PoS) solutions and Electronic Data Capture (EDS) machines to the bank and its merchant network.

This development comes months after the troubled fintech firm shifted its nodal account to Axis Bank to facilitate merchant payments, amid regulatory scrutiny by the Reserve Bank of India.