New Delhi, April 17 (SocialNews.XYZ) One 97 Communications Limited (OCL) which owns the brand Paytm, India’s leading payments and financial services company and the pioneer of QR, soundbox and mobile payments, received go ahead, on Tuesday from the National Payment Corporation of India (NPCI) to start the user migration to new Payment System Provider (PSP) bank handles immediately.
Following NPCI's approval on March 14, 2024, to onboard OCL as a Third Party Application Provider (TPAP) on the Multi Payment Service Provider API Model, Paytm has expedited the integration with Axis Bank, HDFC Bank, State Bank of India (SBI), and YES Bank.
All four banks are now operational on the TPAP, streamlining the process for Paytm to shift user accounts to these PSP banks.
The company has started transitioning ‘@paytm’ handles users to these banks, ensuring seamless UPI payments.
“We are committed to grow the UPI ecosystem in partnership with NPCI to every nook and corner of India,” a Paytm spokesperson said.
Leveraging the robust infrastructure of its banking partners, Paytm ensures uninterrupted and secure UPI payments for both users and merchants through the Paytm app.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz