Paytm Accepts defeat?

@Paytm Accepts Defeat?

Paytm ties up with Citibank and offers co-branded credit cards.

Irony – @Citibank a billion dollar valued experienced bank is not able to launch a business similar to Paytm / PayPal and offers co-branded credit cards and sees this as an achievement? But non financial institutions like Amazon, Google, Facebook is entering into the digital payments business. Does it mean that decision makers in these banking institutions are outdated?

I think paytm purpose was to be a digital wallet service provider and now they are entering into credit card business which beats their purpose or does it mean that they accept defeat sensing the threats from Amazon pay, google pay, Facebook/whatsapp pay?

Does it mean that digital wallet will never pickup in India except the Urban crowd? Or there is no innovation in the West in this segment that the Indian counterparts can copy anymore?

The urban crowd too will favor apps that gives more cash backs and now Google Pay gives better offer. Their scratch card is cool and gives money back most of the time.

This means, You can never buy customer loyalty by giving offers and cash backs. Customers will enjoy, but will jump to other providers giving better offers.

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