A part of Indiaonline network empowering local businesses

Paytm Users Rejoice! Continued UPI Transactions with a Twist

news

Paytm users worried about their @paytm handle’s future can breathe easy – for now. The RBI has stepped in to ensure uninterrupted UPI transactions, but with some key changes.

  • Paytm Payments Bank’s wallet freeze: Bad news for existing account holders – they can’t top up after March 15th.
  • Paytm as a Third-Party App Provider (TPAP): The good news – @paytm can continue as a UPI app, but under new regulations.
  • Handle migration: Existing users must migrate to a new handle linked to a different bank.
  • No new users allowed: Paytm can’t add new users until the migration is complete.
  • More payment partners: The RBI wants 4-5 banks certified to handle Paytm’s high transaction volume.

What does this mean for you?

  • If you use @paytm for UPI, keep an eye out for migration instructions.
  • New users, hold your horses! You can’t join the party yet.
  • More banks will be involved in processing your transactions, potentially increasing options.

Remember: This is a temporary solution while the RBI finalizes Paytm’s long-term status. Stay tuned for further updates!

The post Paytm Users Rejoice! Continued UPI Transactions with a Twist appeared first on Telugu Bullet.

(TELUGU BULLET)

59 Days ago