Paytm, in collaboration with SBI, Axis, HDFC, and YES Bank, will once more enable users to make UPI payments
While giving information to the stock exchange, Paytm has said that it has started connecting its customers with the new Payment System Provider (PSP). The company's partner banks include Axis Bank, HDFC Bank, State Bank of India (SBI) and YES Bank. Paytm received the license of Third-Party Application Provider (TPAP) and Multi Payment Service Provider (MPSP) from NPCI on March 14, 2024.
One 97 Communications Limited (OCL), the parent company of Paytm, has authorised its customers to be connected to the new Payment System Provider (PSP) and has begun doing so. On Wednesday, the company disclosed this information to the stock exchange. State Bank of India (SBI), YES Bank, Axis Bank, and HDFC Bank are some of the company's partner banks.
Giving information to the stock market, Paytm said that on March 14, 2024, it had received the license of Third-Party Application Provider (TPAP) and Multi Payment Service Provider (MPSP) from NPCI. With this license, they are migrating their users with PartnerBanco. With this, the process of transfer of accounts of Paytm users to these banks has become easier.
Before, Paytm users could obtain the UPI account's '@paytm' handle. The four new UPI handles that users must now select from are @ptsbi, @pthdfc, @ptaxis, and @ptyes. To do this, the business also notifies its users through notifications. For users to migrate effortlessly and painlessly.
The statement issued by Paytm said that through our partnership with NPCI, we are committed to developing the UPI ecosystem in every corner of India. Along with this, the company also says that by taking advantage of the strong infrastructure of its banking partners, it will provide a seamless UPI payment facility to customers and merchants.
