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 …
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 …
