look news india
Paytm has been in the news for a long time, where RBI has already banned Paytm Bank and now another big change is going to happen in this regard. Soon users may have to change their UPI ID.
Actually, currently the UPI ID of Paytm users is 987XXXXXXX@Paytm, but soon the company will give the facility to users to migrate to the new UPI ID. Users will soon be able to change UPI ID with partner banks.
Paytm's parent company One97 Communications (OCL) has received approval from the National Payments Corporation of India (NPCI) to transfer its users to the new partner bank and they will then be able to continue their payments.
NPCI had approved OCL to work as a Third Party Application Provider (TRAP) on March 14, 2024, after which Paytm partnered with Axis Bank, HDFC Bank, SBI Bank, Yash Bank. These banks will now provide facilities to Paytm users under TRAP.
According to media reports, under these changes, soon all Paytm UPI users will get a popup. Through this popup, users will be asked for consent and they will have to select the UPI handle of any one of the four banks mentioned above, namely @ptsbi, @pthdfc, @ptaxis and @ptyes.
After this, those users will be able to use UPI service on Paytm like before. In this they will be able to easily receive and transfer payments. However, no details have been revealed yet regarding whether there will be changes in QR codes etc.