As you already know, Paytm has been in hot water since the RBI ordered the functionality of Paytem Pament Banks to stop. But in the latest development, Paytm has announced that there will not be any disruption in its workings as it has received approval from the National Payments Corporation of India (NPCI) to operate as a third-party application provider for UPI services.
Paytm Wallet becomes 3rd party UPI app.
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This regulation allows Paytm to integrate UPI functions seamlessly. This approval from NPCI allows UPI transactions, enabling users to transfer funds, make payments, and engage in various financial transactions seamlessly through the app.
The company has partnered with four Indian banks, including Axis Bank, State Bank of India, HDFC Bank, and YES Bank, to facilitate UPI services.
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