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New Payment System: SBI, Axis, HDFC and YES Bank users will again be able to make UPI payments through Paytm.

While giving information to the stock exchange, Paytm has said that it has started connecting its customers with the new Payment System Provider (PSP). The company’s partner banks include Axis Bank, HDFC Bank, State Bank of India (SBI) and YES Bank. Paytm received the license of Third-Party Application Provider (TPAP) and Multi Payment Service Provider (MPSP) from NPCI on March 14, 2024.

Paytm new Payment System: Paytm’s parent company One 97 Communications Limited (OCL) has started connecting its customers with the new Payment System Provider (PSP) after getting permission from NPCL. The company gave this information to the stock exchange on Wednesday. The company’s partner banks include Axis Bank, HDFC Bank, State Bank of India (SBI), and YES Bank.

Giving information to the stock market, Paytm said that on March 14, 2024, it had received the license of Third-Party Application Provider (TPAP) and Multi Payment Service Provider (MPSP) from NPCI. With this license they are migrating their users with PartnerBanco. With this, the process of transfer of accounts of Paytm users to these banks has become easier.

Partnership with four banks

Paytm users earlier used to get ‘@paytm’ handle for UPI account. Now users will have to choose between four new UPI handles – @ptsbi, @pthdfc, @ptaxis and @ptyes. For this, the company is also giving information to its users by sending notifications. So that users can migrate easily without any hassle.

The statement issued by Paytm said that through our partnership with NPCI, we are committed to developing the UPI ecosystem in every corner of India. Along with this, the company also says that by taking advantage of the strong infrastructure of its banking partners, they will provide seamless UPI payment facility to customers and merchants.

Shyamu Maurya
Shyamu Maurya
Shyamu has done Degree in Fine Arts and has knowledge about bollywood industry. He started writing in 2018. Since then he has been associated with Informalnewz. In case of any complain or feedback, please contact me @informalnewz@gmail.com
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