Paytm Wallet May Soon Partner With HDFC, Axis, Yes Bank To Work As 3rd party UPI App


Mohul Ghosh

Mohul Ghosh

Feb 11, 2024


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 Wallet May Soon Partner With HDFC, Axis, Yes Bank To Work As 3rd party UPI App

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.


Mohul Ghosh
Mohul Ghosh
  • 601 Posts

Subscribe Now!

Get latest news and views related to startups, tech and business

You Might Also Like

Business
Dec. 8, 2022

Beat The Burden Of Medical Inflation With A Health Insurance

As disease rates rise and medical technology develops, treatment costs climb. It’s essential to understand that medical costs are not exclusively associated with hospitals. The cost of prescription drugs, diagnostic procedures, ambulance and operating room fees, consultations with doctors, and other costs are also constantly increasing. All of them could put a big strain on […]

Business
Dec. 8, 2022

3 Biggest Changes Of iOS 16.2 Update That Every iPhone User Should Know!

In its latest update Apple said that it is preparing for the iOS 16.2 update for iPhones across the world. Notably, like the previous release, there are a couple of changes coming for the iPhones.  iOS 16.2 Update Release Date So far, Apple has not announced a release date for iOS 16.2 update. Reportedly, the […]

Business
Dec. 8, 2022

300 Microsoft Employees Create Employee Union, First Time Ever: This Is How Microsoft Reacted

Around 300 workers at Microsoft Corp.’s ZeniMax Studios have commenced the process of forming a union which is said to be the first at the software giant in the US.  Here, Microsoft Corp.’s ZeniMax Studios known for popular video games including Skyrim and Fallout. Forming Union In Microsoft Corp Moreover, the quality assurance employees at […]

Business
Dec. 7, 2022

India Beats China In Air Travel Safety: Ranking Jumps From 102 To 48 In Global Aviation Safety

India’s air safety protocols and executions have improved drastically over the years, as validated by the findings of a specialized agency of the United Nations, the International Civil Aviation Organization or ICAO. The UN watchdog has upgraded India’s ranking in terms of aviation safety to the 48th position, jumping past the rankings of countries like […]

Recent Posts

Related Videos

   

Subscribe Now!

Get latest news and views related to startups, tech and business

who's online