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Feb 10, 2024

Paytm: Transforming UPI Experience? What's Changing?

By: Bhumi Shrivastava

Paytm is in talks with NPCI to operate as a third-party app for UPI transactions.

What's Happening

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VPAs for UPI payments on Paytm may change from "@paytm" to bank-associated handles after March 1st.

Impact on Users

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Paytm plans to partner with multiple banks like Axis Bank, HDFC Bank, and Yes Bank for new VPAs.

Partnering with Banks

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RBI restrictions prevent PPBL from accepting new deposits, prompting the shift to third-party operations.

Regulatory Context

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Paytm joins 22 other third-party app providers already offering UPI services.

Existing TPAPs

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Axis Bank, HDFC Bank, and ICICI Bank have previously supported fintech companies through the third-party model.

Collaboration History

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