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Chinese payments company  Alipay  and India's  Paytm  recently joined hands to increase adoption of digital wallets by small store owners in India and China. As a part of the initiative,  Alipay  was perched to offer Paytm its technological capabilities and risk management systems to help it grow faster and offer a better customer experience.  However, while Paytm and Uber have tied up with Alipay, payments you make through the current wallet will be subject to licensing under FEMA (Foreign Exchange Management Act,1999). Any cross border payments services by the payments bank will be offered subject to FEMA authorizations and  RBI  approvals. As such, the current  Paytm Wallet cannot be used for overseas payments.  Further, the proposed tie up with Alipay does not envisage the use of the current Paytm Semi Closed Wallet for cross border transactions. As per the existing authorization, the wallet can only be used in India.  Paytm's backend will be integrated with Alipay by

Paytm ties up with Wipro for payments bank. Paytm has partnered with IT services company Wipro for a standardized core-banking system to ensure that all accounting and regulatory requirements are met at its upcoming payments bank business. Wipro will implement core-banking solutions for  Paytm  and also the programme to manage the integration of other key systems like anti-money laundering and regulatory reporting solutions. According to Paytm, Wipro will be implementing the core banking solution for  Paytm  and also programme managing the integration of other key systems like the anti-money laundering solution and the regulatory reporting solution.