Paytm’s parent company, One 97 Communications (OCL), has received approval from the National Payments Corporation of India (NPCI) to move users to new banks for UPI transactions. This news comes after NPCI gave OCL the green light in March to operate as a Third-Party Application Provider (TPAP) under a multi-bank model.”One 97 Communications Limited (OCL) that owns the brand Paytm, India’s leading payments and financial services company and the pioneer of QR, soundbox and mobile payments, has received go ahead, yesterday from the National Payment Corporation of India (NPCI) to start the user migration to new Payment System Provider (PSP) bank handles immediately,” the release said.What’s…
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Paytm accelerates user migration to PSP Banks — Axis Bank, HDFC, SBI and YES Bank — after NPCI approval: What this change means
