Do you have @Paytm UPI handle? It is very important to know this step taken by RBI
[ad_1]
Creative Commons
RBI asked NPCI to examine the possibility of Paytm app becoming a third-party application provider for continued UPI operations.
The Reserve Bank of India (RBI) on Friday asked the National Payments Corporation of India (NPCI) to examine the use of UPI channel to continue operating the Paytm app and facilitate migration of @paytm handles to 4-5 banks. RBI asked NPCI to examine the possibility of Paytm app becoming a third-party application provider for continued UPI operations. The central bank has barred Paytm Payments Bank from accepting further credit in its customer accounts and wallets after March 15, 2024.
With a view to ensure seamless digital payments by UPI customers using the ‘@paytm’ handle operated by Paytm Payments Bank, the RBI said it has asked the National Payments Corporation of India (NPCI) to examine the request to become a third-party application provider. Said for. (TPAP) for UPI channel for continuous UPI operation of Paytm App.
RBI said in a statement that the request has been made by One97 Communication Limited (OCL), which owns the Paytm brand. To seamlessly transfer @paytm’handles to other banks, the Reserve Bank of India (RBI) said NPCI will designate 4- as Payment Service Provider (PSP) banks with demonstrated capabilities to process high volume UPI transactions. Can facilitate authentication of 5 banks.
other news
[ad_2]
Source link
