As the deadline given by the Reserve Bank of India (RBI) to the Paytm Payments Bank Limited (PPBL) has come to an end, many questions over the operations of its services have come out.
Amid this, Paytm reassures all customers and stakeholders that the @paytm UPI handle is fully operational, ensuring an uninterrupted and seamless payment experience.
Highlighting the recent development, the Paymt said that the National Payments Corporation of India (NPCI) has granted approval to One97 Communications Limited (OCL) to participate in UPI as a Third-Party Application Provider (TPAP) under multi-bank model.
Four banks namely Axis Bank, HDFC Bank, State Bank of India, YES Bank shall act as PSP (Payment System Provider) banks to OCL.
YES Bank shall also be acting as merchant acquiring bank for existing and new UPI merchants for OCL. “@Paytm” handle shall be redirected to YES Bank. This will enable existing users and merchants to continue to do UPI transactions and AutoPay mandates in a seamless and uninterrupted manner.
A statement from Paytm’s social media affirms, “Yes, you can continue using your @Paytm UPI handle linked with a different bank account without interruption. We will soon introduce an option to change your handle. Thank you for your continuous support and for choosing our services.”
Paytm’s UPI payments and AutoPay are now being redirected to YES Bank which was earlier with Paytm Payments Bank.
This aligns perfectly with Paytm’s steadfast commitment to delivering a seamless payment experience for all its customers and merchant partners.