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Feb 10, 2024
By: Bhumi Shrivastava
Paytm is in talks with NPCI to operate as a third-party app for UPI transactions.
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VPAs for UPI payments on Paytm may change from "@paytm" to bank-associated handles after March 1st.
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Paytm plans to partner with multiple banks like Axis Bank, HDFC Bank, and Yes Bank for new VPAs.
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RBI restrictions prevent PPBL from accepting new deposits, prompting the shift to third-party operations.
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Paytm joins 22 other third-party app providers already offering UPI services.
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Axis Bank, HDFC Bank, and ICICI Bank have previously supported fintech companies through the third-party model.
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