Tough Competition : SBI launched “Buddy” Payment Method Which Can Kill PayTM Payment

PayTM has made an amazing market since its inception in 2010.

Paytm was founded and incubated by One97 Communications in 2010 as a prepaid mobile recharge website. Paytm is an acronym for “Pay Through Mobile”. Apart from being accessed from the browser, its app is available on the Android, Windows and iOS operating systems.

In 2014, the company launched Paytm Wallet, which became India’s largest mobile payment service platform with over 150 million wallets & 75 million android based app downloads as of November 2016. The surge in usage of the service was largely due to the demonetization of the 500 and 1000 rupee currency notes.

But SBI with the help of Government of India has come-up with a different application which works as good as PayTM or may be better. The name of the plan/app is Buddy.

SBI is the most famous and oldest Bank operating in India with over 14,000 branches pan India. The mobile wallet system that it has come up with will beat PayTM in every aspect.

SBI is playing an aspect of nationalism over PayTM by saying PayTM is party owned by chinese giant Alibaba. Alibaba holds 25% stocks in PayTM. While the rates per transaction are way too low in case of Buddy. It would just take INR 2 to transfer INR 10,000 through Buddy while in case of PayTM it would take INR 400 to transfer the same amount.

 

The opposition which was blaming Modi for increasing the revenue of PayTM and Modeling for the company are not saying anything on this move by GOI.

Modi knows how to shut the morons up.

8 thoughts on “Tough Competition : SBI launched “Buddy” Payment Method Which Can Kill PayTM Payment

  • December 22, 2016 at 11:56 am
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    I do agree paytm robbed 7k from my sister’s account and not took any step after then . Be careful while using paytm.

    Reply
  • December 22, 2016 at 8:06 pm
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    Paytm takes 0 rupees for transactions upto 10k and is fully secured

    Reply
  • December 23, 2016 at 9:28 am
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    Paytm never gave loans to Mallaya 🙂
    Don’t have much bad debts.
    Your credibility matters.

    Reply
  • December 23, 2016 at 2:47 pm
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    Paytm is not trusted app. They don’t refund. They hav’nt any customer care. You can send mail but they didn’t answer you.

    Reply
  • December 23, 2016 at 7:57 pm
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    Ok nice But we r all ready yousing payment by ATM or CC Card so whats new y In the name of black mony PM Published Pay Tm Or Buddy whats new Where is Black money After All show many public Died After this declaration Who is responsible PM or we ?????????

    Reply
  • December 24, 2016 at 8:06 pm
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    I forgotten my buddy login pin and also security question. Im calling state bank helpline several times but they are not connecting my call to speak with them. Even i sent mail requesting for pin to contactcenter@sbi.com but no responce.
    Please help me.

    Reply
  • December 28, 2016 at 12:43 pm
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    Many info are wrong here.
    If your account is KYC compliant, the charges is 0.1% and the monthly limit is 20,000, though charges and the limit are subject to changes.
    SBI buddy is not as convenient as Paytm. You can check for yourself

    Reply
  • December 28, 2016 at 9:39 pm
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    Sbi buddy and sbi customer care was. Very wrost
    Dont use sbi buddy for any putpose

    Reply

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