Do you have @Paytm UPI handle? RBI has a message for you
10 months ago

Do you have @Paytm UPI handle? RBI has a message for you

India Today  

The Reserve Bank of India has asked National Payments Corporation of India to consider One97 Communication Ltd's request to become a Third-Party Application Provider for the UPI channel for continued operation of the Paytm app. This situation has prompted the need for additional measures to ensure smooth digital payments through the UPI channel operated by Paytm Payments Bank and to reduce risk by having multiple payment app providers. "As the Paytm Payments Bank cannot accept further credits into its customer accounts and wallets after March 15, 2024, certain additional steps have become necessary to ensure seamless digital payments by UPI customers using ‘@paytm’ handle operated by the Paytm Payments Bank," said RBI in a press release. Users of FASTag and National Common Mobility Cards issued by Paytm Payments Bank should also make alternative arrangements to avoid inconvenience before the mentioned date. "It is reiterated that the holders of FASTag and National Common Mobility Cards issued by Paytm Payments Bank, may make alternative arrangements before March 15, 2024 to avoid any inconvenience," said RBI.

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History of this topic

Paytm starts migrating users to new UPI IDs: What changes for you?
8 months, 1 week ago

Paytm starts migrating users to new UPI IDs: What changes for you?

Hindustan Times  

One97 Communications Limited, Paytm's parent company, began migrating customers to partner payment service provider banks Axis Bank, HDFC Bank, SBI and Yes Bank. Until now, Paytm UPI customers were using Paytm Payments Bank Limited which was barred by the Reserve Bank of India from conducting several business operations. Paytm roped in Axis Bank, Yes Bank, SBI and HDFC Bank as …

Yes Bank, Axis Bank go live on Paytm's UPI platform: What you need to do
9 months, 1 week ago

Yes Bank, Axis Bank go live on Paytm's UPI platform: What you need to do

Hindustan Times  

Paytm UPI: National Payments Corporation of India gave One97 Communications Limited- Paytm's parent company- approval to be a third-party app on UPI platform. Following this, Yes Bank and Axis Bank went live on Paytm app using which users can create new handles. Paytm UPI: RBI's deadline for Paytm Payments Bank Limited to stop all banking operations ends today. New users …

Paytm Gets TPAP License from NPCI for UPI Payments
9 months, 1 week ago

Paytm Gets TPAP License from NPCI for UPI Payments

Deccan Chronicle  

Mumbai: The National Payments Corporation of India has granted approval to One97 Communications Limited the parent of Paytm to participate in UPI as a Third-Party Application Provider under the multi-bank model. YES Bank shall also be acting as merchant acquiring bank for existing and new UPI merchants for OCL. OCL has been advised to complete migration for all existing handles …

Paytm gets third-party app license from NPCI to perform UPI transactions
9 months, 1 week ago

Paytm gets third-party app license from NPCI to perform UPI transactions

India TV News  

Paytm, the leading digital payments platform in India, has been granted a third-party application provider license by the country's payments authority. License to ensure seamless payments The newly acquired license enabled Paytm to serve as a third-party application provider, allowing customers to conduct transactions through India's unified payment interface. Partnerships with leading banks Axis Bank, HDFC Bank, State Bank of …

Paytm cuts ties with Paytm Payments Bank, ends inter-company pacts after RBI's crackdown
9 months, 3 weeks ago

Paytm cuts ties with Paytm Payments Bank, ends inter-company pacts after RBI's crackdown

Hindustan Times  

Paytm's parent company One 97 Communications said in a company filing on Friday that the firm's board has decided to discontinue the inter-company pacts with its banking service Paytm Payments Bank to reduce dependencies. Paytm has cut company ties with Paytm Payments Bank Paytm Payments Bank Limited has remained under the lens of the Reserve Bank of India for a …

Will @Paytm UPI Work After March 15? Here's What Users Need To Know
9 months, 4 weeks ago

Will @Paytm UPI Work After March 15? Here's What Users Need To Know

News 18  

In January 2024, the Reserve Bank of India imposed restrictions on Paytm Payments Bank due to “persistent non-compliance” with regulations. Third-Party App Provider RBI has asked the NPCI to examine the possibility of migrating Paytm Payments Bank customers using the UPI handle ‘@paytm’ to 4-5 other banks, in a bid to prevent any disruptions in the payment ecosystem. As the …

NPCI to examine Paytm's third-party app request for UPI: RBI
10 months ago

NPCI to examine Paytm's third-party app request for UPI: RBI

Hindustan Times  

The Reserve Bank of India on Friday said it has advised National Payments Corporation of India to examine One97 Communication Limited's request seeking approval for the Third-Party Application Provider route for continuation of Paytm's Unified Payments Interface services. Paytm Payments Bank cannot onboard new customers after March 15 One97 Communication Limited is the parent firm of fintech major Paytm. On …

Paytm, Axis Bank to apply this week for third-party route for UPI: Report
10 months ago

Paytm, Axis Bank to apply this week for third-party route for UPI: Report

Hindustan Times  

One97 Communications Limited, which owns Paytm, and recently joined hands with Axis Bank in the wake of Reserve Bank of India's crackdown against Paytm Payments Bank, will apply this week for the third-party application provider route, with the application to be sent to the National Payments Corporation of India, Moneycontrol has reported. Cutlery vendor switches on Paytm, a digital payments …

Paytm Payments Bank Fastag, Wallet or Salary Credit, RBI FAQ Simplified For Users, Clear All Doubts Here
10 months, 1 week ago

Paytm Payments Bank Fastag, Wallet or Salary Credit, RBI FAQ Simplified For Users, Clear All Doubts Here

News 18  

RBI FAQ Paytm Payments Bank: The RBI on Friday advised customers as well as merchants of Paytm Payments Bank Ltd to shift their accounts to other banks by March 15, giving 15 more days to the beleaguered entity to close most of its operations, including deposit and credit transactions. If your receipt and transfer of funds is linked to any …

Paytm Payments Bank crisis: RBI issues 30 FAQs after crackdown
10 months, 1 week ago

Paytm Payments Bank crisis: RBI issues 30 FAQs after crackdown

Hindustan Times  

The Reserve Bank of India, soon after extending the deadline to halt operations, issued a list of frequently asked questions for Paytm Payments Bank account holders. After March 15, 2024, you will not be able to deposit money into your account with Paytm Payments Bank. After March 15, 2024, you will not be able to receive any such credits into …

RBI Releases FAQs on Paytm Payments Bank Operations After March 15
10 months, 1 week ago

RBI Releases FAQs on Paytm Payments Bank Operations After March 15

Deccan Chronicle  

Mumbai: The Reserve Bank of India on Friday issued a list of frequently asked questions on Paytm Payments Bank for the convenience of the customers of the fintech giant which has been banned from onboarding new customers. The RBI in a press statement announced extending the deadline for Paytm Payments Bank to wind down operations by 15 days to March …

RBI extends deadline for Paytm Bank customers to make deposits, access credit transactions till March 15
10 months, 1 week ago

RBI extends deadline for Paytm Bank customers to make deposits, access credit transactions till March 15

The Hindu  

The Reserve Bank of India has extended the earlier stipulated deadline for Paytm Payments Bank’s customers to make deposits and access credit transactions till March 15, 2024. However, those merchants who are accepting payments using a Paytm QR code, Paytm soundbox, Paytm POS terminal linked to their bank account or wallet with Paytm Payments Bank will not be able to …

RBI gives 15 days relaxation to Paytm Payments bank, says Paytm QR, soundbox, POS will continue to work
10 months, 1 week ago

RBI gives 15 days relaxation to Paytm Payments bank, says Paytm QR, soundbox, POS will continue to work

Op India  

The Reserve Bank of India on Friday gave a 15 day relaxation to Paytm payments bank on accepting deposits. However, no fresh deposits with partner banks through Paytm Payments Bank will be allowed after March 15, 2024. Merchants using Paytm Payments Bank to receive payments using a Paytm QR code, Paytm soundbox or Paytm POS terminal, linked to another bank …

RBI grants Paytm Payments Bank extension until March 15 to stop deposits
10 months, 1 week ago

RBI grants Paytm Payments Bank extension until March 15 to stop deposits

Hindustan Times  

The RBI on Friday gave 15 days more till March 15, 2024 to Paytm Payments Bank Ltd to stop deposits, credit transactions or top-ups in any customer accounts, wallets, and FASTags, keeping in view the interest of customers, including merchants. A customer pays cash to buy vegetables next to a QR code of Paytm, a digital payments firm, on display …

RBI releases Paytm Payments Bank FAQs. Check what happens to wallets, FASTags
10 months, 1 week ago

RBI releases Paytm Payments Bank FAQs. Check what happens to wallets, FASTags

India Today  

The Reserve Bank of India has announced an extension of the deadline for the operations of Paytm Payments Bank Limited. Wallet services, FASTags, and NCMC cards issued by Paytm Payments Bank can be used until the balance is exhausted, but no top-ups or recharges will be allowed after March 15, 2024. Deposits or transfers into Paytm Payments Bank accounts will …

Paytm Payments Bank gets reprieve till March 15, RBI cites customers' interest
10 months, 1 week ago

Paytm Payments Bank gets reprieve till March 15, RBI cites customers' interest

India Today  

The Reserve Bank of India on Friday extended the earlier deadline given to Paytm Payments Bank Limited to stop key services, including credit transactions, deposits, wallet, and FASTags. The central bank has said in a fresh circular that the new deadline is March 15, and also released a list of FAQ on Paytm Payments Bank. "Keeping in view the interest …

Paytm set to operate as third-party app for UPI: Report
10 months, 2 weeks ago

Paytm set to operate as third-party app for UPI: Report

Hindustan Times  

One97 Communications Limited, the parent firm of crisis-hit Paytm, is focusing on the third-party payment app route to ensure that the fintech major's Unified Payments Interface remains available to its users, according to an Economic Times report. “Since Paytm Payments Bank will stop offering payment services, Paytm will become a third-party app going forward, integrating UPI through other lenders,” the …

Paytm Payments Bank's independent director Manju Agarwal resigns from board following RBI order
10 months, 2 weeks ago

Paytm Payments Bank's independent director Manju Agarwal resigns from board following RBI order

India TV News  

New Delhi: Paytm Payments Bank independent director Manju Agarwal has reportedly resigned from the board following an RBI order that imposed restrictions on the bank's operations. "Paytm Payments Bank independent director Manju Agarwal has resigned from the company's board after RBI order," the source said. RBI order to Paytm Payments Bank The RBI issued a directive on January 31, instructing …

Paytm crisis: Vijay Shekhar Sharma knocks at Nirmala Sitharaman's door, gets curt reply
10 months, 2 weeks ago

Paytm crisis: Vijay Shekhar Sharma knocks at Nirmala Sitharaman's door, gets curt reply

Hindustan Times  

Paytm founder and chief executive officer Vijay Shekhar Sharma on Tuesday had met finance minister Nirmala Sitharaman in wake of the Reserve Bank of India actions against his Paytm Payments Bank. According to a Moneycontrol report, the central bank refused to grant any concession to the Paytm Payments Bank including the migration of users' accounts to other banks and extension …

Will UPI service continue on Paytm? Company's response
10 months, 2 weeks ago

Will UPI service continue on Paytm? Company's response

Hindustan Times  

Paytm said that UPI service on Paytm will continue to work as normal as the company is working with other banks to make changes. Paytm UPI service falls under the Paytm Payments Bank, which was barred by the Reserve Bank of India from taking money from customers after February 29. Customers made 144.25 crore transactions on the Paytm Payment Bank …

UPI will continue to operate as normal, working with other banks for continuity of service: Paytm
10 months, 2 weeks ago

UPI will continue to operate as normal, working with other banks for continuity of service: Paytm

India TV News  

UPI service on Paytm will continue to work as normal as the company is working with other banks to make changes in the back-end for continuity of its services, the company said on Monday. While PPBL, the entity overseeing Paytm's UPI services, faces constraints on accepting money from customers after February 29, the company is working to connect with other …

Paytm woes worsen as traders' body advises users to switch to other payment apps after RBI crackdown
10 months, 2 weeks ago

Paytm woes worsen as traders' body advises users to switch to other payment apps after RBI crackdown

Hindustan Times  

After the Reserve Bank of India cracked down against Paytm Payments Bank and its regulatory violations, traders' body CAIT issued a cautionary advice to Paytm users, urging them to switch to other payment apps. The Confederation of All India Traders said in a statement that traders are advised to use payment platforms other than Paytm for business-related transactions as RBI …

RBI Bars Paytm Bank from Offering Banking Services After February 29
10 months, 3 weeks ago

RBI Bars Paytm Bank from Offering Banking Services After February 29

Deccan Chronicle  

Mumbai: The Reserve Bank of India on Wednesday banned Paytm Payments Bank Ltd from offering all forms of banking services including fund transfers via Unified Payments Interface, IMPS, Aadhaar-enabled payments and bill payment transactions, effective February 29, 2024. However Paytm customers need not worry as they can continue to utilise balances from their accounts, including savings and current without restriction …

RBI's action against Paytm Payments Bank explained
10 months, 3 weeks ago

RBI's action against Paytm Payments Bank explained

Hindustan Times  

New Delhi: The Reserve Bank of India on Wednesday barred Paytm Payments Bank Ltd from accepting fresh deposits and making credit transactions. The RBI said the Paytm Payments Bank's continued material supervisory concerns warranted supervisory action. Noida-based One 97 Communications Ltd is the parent company of the Paytm Payments Bank. This means if a person wants to transfer the balance …

Are you a Paytm Payments Bank customer? Check how RBI action impacts you
10 months, 3 weeks ago

Are you a Paytm Payments Bank customer? Check how RBI action impacts you

Hindustan Times  

The Reserve Bank of India on Wednesday imposed stringent restrictions on the operations of Paytm Payments Bank Ltd due to supervisory concerns. The central bank restricted Paytm Payments Bank Ltd from fresh deposits and credit transactions across its services. The regulatory action follows an initial directive dated March 11, 2022, wherein the RBI directed Paytm Payments Bank to halt the …

Paytm answers if customers need to pay fee on UPI payments
1 year, 8 months ago

Paytm answers if customers need to pay fee on UPI payments

Hindustan Times  

Digital payments firm, Paytm, on Wednesday clarified doubts over National Payments Corporation of India’s latest circular notifying that an interchange fee of up to 1.1% will be applicable on merchant UPI transactions from April 1. In a tweet, the financial tech firm urged to not spread misinformation as it said that “no customer will pay any charges on making payments …

This is how Paytm built UPI leadership on top of its QR pioneership
1 year, 10 months ago

This is how Paytm built UPI leadership on top of its QR pioneership

Hindustan Times  

From a cash-reliant nation to a digital-first economy, India's payment landscape has undergone a massive transformation thanks to QR and digital payments pioneer Paytm's range of innovative products tailored to meet the needs of Indian consumers and merchants. As a pioneer in the digital payments space, Paytm developed the QR code-based payment method for brick-and-mortar stores, becoming the first company …

Paytm Bank barred from adding new customers
2 years, 9 months ago

Paytm Bank barred from adding new customers

Deccan Chronicle  

Mumbai: The Reserve Bank of India on Friday asked Paytm Payments Bank Ltd to stop onboarding of new customers with immediate effect, citing certain “material supervisory concerns” observed in the bank. Onboarding of new customers by Paytm Payments Bank Ltd will be subject to specific permission to be granted by the RBI after reviewing report of the IT auditors, the …

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