The State Bank of India has partnered with Paytm parent organisation One97 Communications to settle Unified Payments Interface (UPI) transactions upon acquiring the third-party app provider (TPAP) license.

Banking & Finance

The State Bank of India has partnered with Paytm parent organisation One97 Communications to settle Unified Payments Interface (UPI) transactions upon acquiring the third-party app provider (TPAP) license. One97 Communications collaborate with major banks like State Bank of India (SBI), HDFC Bank, Axis Bank, and YES Bank. The transition is expected to be seamless and gradual, with the "@paytm" handle being retained. However, instead of linking to Paytm Payments Bank (PPBL), these handles will redirect to one of the four banks for settlement.


      National Payments Corporation of India (NPCI) is likely to approve Paytm's TPAP license by March 15.

     

     

 

     


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