Churns keep happening in market place, says HDFC Bank’s Parag Rao on Paytm developments

Parag Rao, Country Head - Payments Business, Consumer Finance, Digital Banking & Marketing, HDFC Bank, says “in a churn, customers move from one service provider to the other. So if any one player in the marketplace changes their strategy or something else happens, we will see this churn constantly happening. I do not think there is anything strange happening.”

What is your view on the Paytm situation?
Parag Rao: It is a dynamic situation, a lot of things are happening, so it would be inappropriate for me to comment on anything right now. We are just watching and seeing what is happening.

Any new tie-ups that you would be reconsidering at this point with them and also what is your view on the regulatory scrutiny that is happening at this point and its impact on the whole ecosystem?
Parag Rao: It would be really inappropriate for me to comment on that.


You also spoke during the press conference about migration of a lot of people, especially small and medium enterprise owners from Paytm to PayZapp etc that you look at this kind of migration as an opportunity. How much of this will impact this particular ecosystem?
Parag Rao: I can only say that in a churn, customers move from one service provider to the other. So if any one player in the marketplace changes their strategy or something else happens, we will see this churn constantly happening. I do not think there is anything strange happening.