Paytm gets green light from NPCI to onboard new UPI users

Quick Summary:

Paytm's new UPI registrations were halted in January and February 2024 following directives from the Reserve Bank of India (RBI) barring the fintech from onboarding new UPI users.

In September, Paytm's MTUs dipped to 6.8 crore users.Paytm had to migrate 13.5 crore UPI users to its new system in partnership with banks like SBI, HDFC Bank, Axis Bank, and Yes Bank, following the RBI's mandate to shift users after Paytm Payments Bank was asked to stop transactions post 15 March.

The NPCI’s approval comes with several conditions.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Sayan Sen

Category: StartupsEconomyBusiness

Markets: India

Topics: Payments Onboarding Privacy Information Bank Paytm Npci Crore Users Policy Data

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-22 @ 18:12:20 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: yourstory.com

Language: English

Article Length: 250 words

Reading Time: 2 minutes read

Sentences: 14 lines

Sentence Length: 18 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © YourStory

News ID: 23206282

View Article Analysis

About YourStory

Main Topics: StartupsEconomyBusiness

Official Website: yourstory.com

Update Frequency: 4 posts per day

Year Established: 2008

Headquarters: India

News Last Updated: 14 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #44

Publisher Details

Frequently Asked Questions