Paytm has secured a third-party app licence from NPCI, allowing it to operate as a Unified Payment Interface (UPI) provider independently. With this licence, Paytm users can continue making payments seamlessly even after the closure of Paytm Payments Bank (PPBL).
The transition will be smooth, with '@Paytm' handle redirecting to YES Bank for uninterrupted transactions. Merchants with PPBL accounts will be migrated to other banks, with Yes Bank facilitating UPI services for both existing and new merchants.