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](https://trak.in/stories/wp-content/uploads/2024/02/Untitled-design-45-1-1.jpg)
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.