Crisis-ridden payments firm Paytm has initiated talks with agencies like NPCI to adopt third-party banking partnerships ensuring continued UPI availability after RBI disabled its own Paytm Payments Bank from onboarding customers or processing financial transactions beyond February.
Paytm now intents integration with players like Axis Bank, Yes Bank and HDFC Bank for white-label infrastructure supporting its mobile wallet and merchant payments through non-bank tie-ups, mirroring route used by rivals already for compliance.
Over 22 TPPAs Exist In UPI Channels
Officials confirmed Paytm aims securing new virtual payment addresses (VPA) for 300 million+ existing users from alternative banking channels by next month replacing current ‘@paytm’ handles aligned earlier with its banned payments bank arm.
Paytm’s shift follows the standard third-party route governing major payment apps ecosystem today outside lender-promoted offerings, with over 22 such authorized TPPAs currently active and issuing VPAs incorporating both partner bank and app brand prefixes.