Google has removed digital payments major Paytm’s app from its Play Store for allegedly violating its gambling policies.
“Paytm Android app is temporarily unavailable on Google’s Play Store for new downloads or updates. It will be back very soon,” Paytm said in a tweet on Friday.
“All your money is completely safe, and you can continue to enjoy your Paytm app as normal,” it added.
Google said that it does not allow online casinos or support any unregulated gambling apps that facilitate sports betting.
“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,” Suzanne Frey, vice president, Product, Android Security and Privacy, wrote in a blog post.
Paytm, which competes with Google Pay, said that that revenue increased to Rs 3,629 crore with a 40 per cent decline in losses for the fiscal year ended on March 31.
The company has launched a slew of merchant focused products such as Paytm for Business app, Soundbox, Business Khata, Payout services among others that are transforming the way SMEs do business in the country.
Paytm said its All-in-One Android POS device is gaining traction among a large number of retailers that have resulted in 2 lakh units getting sold.
Paytm is aiming to become a dominant digital financial services platform with Paytm Postpaid, Paytm Money & Paytm Insurance services contributing an increased turnover in the coming years.
Paytm recently launched Stock Trading on its online investment and wealth management platform Paytm Money.
Paytm said that it is in the process of hiring over 1000 engineers, data scientists, financial analysts among other positions for tech and non-tech roles.