Paytm not on Google Playstore anymore: First things first. No, there is no cause of concern for anyone. "Your money is safe" and so is your account. The Paytm app is removed by Google Playstore as Google said that it does not allow online casinos or support any unregulated gambling apps that facilitate sports betting. Nothing to do with your money matters here.
THE BIG QUESTION: SHOULD YOU WORRY?
People who already have Paytm installed on their phone and have money in their account can carry on with payments, etc. like earlier. There is no change. However, until Google allows the app back in its PlayStore, there won't be any Paytm app updates in your Android device, which includes security fixes. That can be a little unsettling, however, you can bypass it by registering for UPI through some other app like Phonepe or Google Pay or Amazon Pay, there are so many out there.
If you really are paranoid, DO THIS: UPI is portable and secure. Just register for UPI through some other app like Phonepe or Google Pay or Amazon Pay through your registered mobile number. It should work seamlessly. Also as it's UPI you can easily port to another service.
WHAT REALLY HAPPENED HERE
Google on Friday took down the payments app Paytm from its Play Store, citing violations of its app store’s gambling policies. What is worth noticing here is that Google’s action has come a day before the Indian Premier League (IPL) T20 tournament begins. Dream11, which is the title sponsor for the IPL tournament this year, is also not available on Google Play Store because the tech giant says "it allows users to win actual money." It is worth mentioning here that Google Pay is a direct competitor of Paytm in India which claims to have 50 million monthly active users.
In a blog post published on Friday, Suzanne Frey, Vice President, Product, Android Security and Privacy, said: “We don’t allow online casinos or support any unregulated gambling apps that facilitate sports betting. This includes if an app leads consumers to an external website that allows them to participate in paid tournaments to win real money or cash prizes, it is a violation of our policies.
“When an app violates these policies, we notify the developer of the violation and remove the app from Google Play until the developer brings the app into compliance. And in the case where there are repeated policy violations, we may take more serious action which may include terminating Google Play Developer accounts. Our policies are applied and enforced on all developers consistently.”
WHO IS AFFECTED
Android users who want to install/download or update the Paytm app will not be able to do so since Google Playstore neither houses the app nor supports its update. However, those who already have the app installed on their devices will be able to continue using it as before.
iPhone users, who use the iOS version of the Paytm app are not affected anyway.
One more point to note is that ONLY the Paytm app and Paytm First Games has been taken down, other apps by the same company such as Paytm Money, Paytm Mall are still available on Google Play Store as before. Shoppers, rejoice!
WHAT DID PAYTM SAY
Paytm said in a Tweet, “Paytm Android app is temporarily unavailable on Google’s Play Store for new downloads or updates. It will be back very soon. All your money is completely safe, and you can continue to enjoy your Paytm app as normal."
In another tweet, Paytm has said: " We continue to work with Google to restore our Android app. We assure all our users that their balances & linked accounts are 100% safe. Our services are fully functional on all existing apps and you can continue enjoying Paytm like before."
That sounds reassuring, isn't it?