New Delhi: One 97 Communications Limited (OCL), the parent company of Paytm, has received approval from the National Payment Corporation of India (NPCI) to start moving users to new Payment System Provider (PSP) bank handles.
Paytm integrated with four major banks, namely Axis Bank, HDFC Bank, State Bank of India (SBI), and YES Bank. This happened after NPCI endorsed OCL on March 14, 2024, as a Third-Party Application Provider (TPAP) on the Multi Payment Service Provider API Model.
Now that all four banks are set up on the TPAP, Paytm aims to make it easier for users to switch their accounts to these PSP banks. They’ve started moving ‘@paytm’ handle users to these banks, ensuring a smooth UPI payment experience.
A Paytm spokesperson said, “We are committed to expanding the UPI ecosystem in collaboration with NPCI to every corner of India.”
