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While Consumers Adapt To Digital Payments, Swadeshi Jagran Manch Wants Paytm’s China Links To Be Probed
PayTM
The Swadeshi Jagran Manch has called for investigations into the alleged China links of the country's top mobile wallet provider Paytm.
"There are reports that Paytm has connection with Chinese firm Alibaba. This is a matter of concern and needs to be probed," Ashwani Mahajan, co-convener of the Swadeshi Jagran Manch (SJM), told IANS.
Ever since the demonetisation drive, millions of consumers and merchants across the country have been opting for mobile payments via Paytm. The company has added over five million new users since the demonetisation was implemented.
Mahajan said while the SJM welcomes the government's initiative towards creating a cashless society, a few things cause concern.
Mahajan said SJM strongly suspects that Chinese firms may steal the country’s banking data through such channels and may misuse it, as the users have to furnish their debit/credit card and bank account numbers while using apps like Paytm.
“What is the percentage of foreign investment in Paytm? To what extent the firm's management is controlled by foreign players? These are a few questions we should have answers of," he added.
He said that no Indian company should be sharing data with foreign companies and the investment routes should be made very transparent.
"We would take up the matter with the finance and commerce ministries," Mahajan said.
He also raised objection over Paytm using Prime Minister Narendra Modi's picture in its advertisements.
With inputs from IANS.
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