Brands
Paytm and RBL Bank band together to supercharge merchant payments
MUMBAI: Cash? So last decade. Paytm has joined forces with RBL Bank to make digital payments even smoother, smarter, and—dare we say—unavoidable. With this powerhouse partnership, RBL Bank’s merchant network will now have access to Paytm’s pioneering soundbox and advanced card machines, making transactions faster, easier, and, most importantly, 100 per cent cashless.
Paytm’s soundbox has already revolutionised in-store payments by offering instant audio confirmations for every transaction. But the innovation doesn’t stop there. The NFC Card Soundbox takes it a step further, allowing tap and pay transactions using debit and credit cards—yes, even for international tourists. Say goodbye to the days of customers fumbling for exact change.
The Paytm Card Machines (EDC devices) give merchants even more flexibility by accepting UPI, Rupay credit card on UPI, UPI lite, debit cards, credit cards, and even EMI options from leading banks. And in case you were wondering, the soundbox supports 11 languages because, let’s face it, digital payments should be accessible in every tongue.
Merchants using Paytm’s technology get access to the Paytm for Business Dashboard, a game-changer that allows them to track transactions in real-time and enjoy instant settlements. More transparency. More control. Less waiting around.
“Our goal is to simplify payments for merchants by providing cutting-edge solutions that enhance efficiency and trust. Partnering with RBL Bank allows us to expand the reach of our pioneering Soundbox and card machines, ensuring businesses of all sizes can accept digital payments with ease. With instant settlements, EMI options, and diverse payment methods, we continue to innovate and support businesses in their digital growth journey,” said Paytm CBO – offline payments Ripunjai Gaur.
“We are pleased to collaborate with Paytm to offer merchants on our network with advanced and innovative online payment solutions. This partnership aligns with our vision of enabling seamless, secure, and efficient transactions. With innovative offerings like Tap and Pay-enabled NFC Card Soundbox and feature-rich Paytm Card Machines, we are committed to supporting businesses in their digital transformation journey,” said RBL Bank president & head – branch banking & retail liabilities Narendra Agrawal.
This isn’t just a partnership—it’s a digital revolution for businesses looking to ditch cash and embrace the future of payments. With secure, seamless, and instant payment solutions, merchants across the country can streamline transactions and scale their businesses with confidence.
So, is cash finally dead? Not yet. But with Paytm and RBL Bank leading the charge, it might just become an endangered species.
Brands
YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
