1 year ago

Paytm Gets TPAP License from NPCI for UPI Payments

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 and mandates, wherever required, to new PSP banks at the earliest, said NPCI in a statement. A TPAP or Third-Party Application Provider facilitates UPI-based payment transactions via mobile wallets, merchant apps, or any other platform that utilises UPI for payments.

Deccan Chronicle

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