Paytm users may soon see a big change. Now users may have to select a new UPI ID. Actually, Paytm’s parent company One 97 Communications (OCL) has received approval from the National Payments Corporation of India (NPCI) that it can migrate its users to the new bank. Let us know about it in details.
Paytm has been in the news for a long time, where RBI has already banned Paytm Bank and now another big change is going to happen in this regard. Soon users may have to change their UPI ID.
Actually, currently the UPI ID of Paytm users is 987XXXXXXX@Paytm, but soon the company will provide the facility to migrate the users to the new UPI ID. Users will soon be able to change UPI ID with partner banks.
Paytm’s parent company One 97 Communications (OCL) has received approval from the National Payments Corporation of India (NPCI) that it can migrate its users to the new partner bank and then they will be able to continue their payments.
NPCI had approved OCL to work as a Third Party Application Provider (TRAP) on March 14, 2024, after which Paytm partnered with Axis Bank, HDFC Bank, SBI Bank, Yash Bank. These banks will now provide facilities to Paytm users under TRAP.
According to media reports, under these changes, all Paytm UPI users will soon get a popup. Through this popup, consent will be sought from the users and they will have to choose one of the UPI handles of any of the four banks mentioned above, such as @ptsbi, @pthdfc, @ptaxis and @ptyes.
After this, those users will be able to use UPI service on Paytm like before. In this they will be able to easily receive and transfer payments. However, no details have been revealed yet about whether there will be changes in QR Code etc.
