Here’s why ED asks Paytm to freeze certain amount from select merchant IDs
The Enforcement Directorate (ED), after conducting raids at multiple locations belonging to payment gateways, i.e., Paytm and PayU in connection with a case of Chinese loan apps, asked Paytm to freeze certain amounts from a few Merchant IDs (MIDs).Sources said the raids were conducted in Mumbai, Delhi, Gurugram, Lucknow, and Kolkata.The ED has not given any official comment on the matter.On September 3, raids were conducted at the premises belonging to online payment gateways including Razorpay Pvt Ltd, Cashfree Payments,…