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NPCI Greenlights One97 Communications Limited for UPI Participation as TPAP

Mumbai: National Payments Corporation of India (NPCI) has allowed One97 Communications Limited (OCL) to join UPI as a Third-Party Application Provider (TPAP) within the multi-bank framework. 

Under this arrangement, OCL will collaborate with four banks (Axis Bank, HDFC Bank, State Bank of India, and YES Bank), with YES Bank also serving as the merchant acquiring bank for both existing and new UPI merchants associated with OCL. 

The “@Paytm” handle will now be linked to YES Bank. This transition ensures uninterrupted UPI transactions and AutoPay mandates for both existing users and merchants. OCL has been instructed to swiftly migrate all existing handles and mandates to the new PSP banks.

Tags: BFSI