Paytm News : Big decision of NPCI, Give approval to Paytm to become UPI App!

Paytm News : National Payment Corporation of India i.e. NPCI has approved Paytm to become a third party UPI app. Four banks have been included in this. In such a situation, now we know whether Paytm is banned.

Paytm News

Paytm News : There is relief news for Paytm and its parent company One 97 Communications Limited. National Payments Corporation of India i.e. NPCI has approved Paytm to become a third party UPI app. After this approval, Paytm can now continue its UPI services as a third party application provided under the multibank model.

Let us tell you that the operations of Paytm’s banking unit Paytm Payment Bank Limited are going to be closed from March 15. In such a situation, under this license, Paytm users will now be able to use UPI services in future also.

Is Paytm to be closed ?

Paytm News
Paytm News

Paytm News : Let us tell you that Paytm will not be closed. Last month, the Reserve Bank of India (RBI) had issued guidelines regarding Paytm Payment Bank. Under which if Paytm UPI services are linked to Paytm Payment Bank, then they will not work after March 15. The central bank had said that if you want to continue these services, then customers and merchants will have to link their Paytm UPI to some other bank. After this, Paytm’s parent company One97 Communication Limited has joined hands with four banks for this.

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Paytm Partner Bank

Paytm News
Paytm News

Four banks have been made partner banks of Paytm. Which includes Yes Bank, Axis Bank, HDFC Bank, and State Bank of India. These four banks will work as payment system providers of Paytm to improve payment services. Earlier, Paytm was operating these services through PPBL, which had a TPAP license.

BankPayment Service Provider (PSP) Bank
Axis BankYes
HDFC BankYes
State Bank of IndiaYes
Yes BankYes

What did NPCI say?

NPCI (National Payments Corporation of India) said in a statement that “Yes Bank will also act as the merchant acquiring bank for existing and new UPI merchants for OCL. The “@Paytm” handle will be redirected to Yes Bank. . This will help Paytm users and merchants to continue UPI transactions and autopay transactions easily and without any interruption. Further, NPCI has advised Paytm to complete the migration of all existing handles and principals to the new PSP banks wherever necessary as soon as possible.

Paytm News
Paytm News

Paytm Share Price

Paytm shares closed at Rs 350.65 today on March 14 with a decline of 0.085%. Paytm’s 52 week high is Rs 998.30. Whereas 52 week low is Rs 318.05.

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