Paytm UPI: New users trying to register for UPI on Paytm app will get new handles.
The National Payments Corporation of India (NPCI) has authorized Paytm’s parent company, One97 Communications Limited, to be a third-party application on the UPI platform. After that, Yes Bank and Axis Bank introduced the Paytm app, which allows users to create new handles. This comes as RBI’s deadline for Paytm Payments Bank Limited to stop all banking operations ends today.
New users trying to register for UPI on the Paytm app will get new handles supported by these banks instead of Paytm Payments Bank Limited. Jah Bank started live streaming with a closed user group with the handle @ptyes and Axis Bank stopped it with the handle @ptaxis. The former will have an additional role going forward to migrate existing @paytm handles..
SBI and HDFC Bank will likely go live in a couple of days on the platform. SBI will go with @ptsbi and HDFC will go with @pthdfc handles as payment service provider (PSP) banks.