Image Source : PTI (FILE) Paytm
UPI service on Paytm will proceed to work as regular as the corporate is working with different banks to make modifications within the back-end for continuity of its providers, the corporate mentioned on Monday.
The firm is actively collaborating with different banks to implement vital modifications within the backend, making certain seamless continuity of its providers.
While PPBL, the entity overseeing Paytm’s UPI providers, faces constraints on accepting cash from clients after February 29, the corporate is working to attach with different banks to keep up regular UPI operations. Paytm’s spokesperson mentioned that customers need not take any extra actions.
“UPI on Paytm will continue to operate as normal. We are working on the back end to connect with other banks to ensure seamless continuity of service. Users are not required to do anything additional,” a Paytm spokesperson mentioned.
In December, PPBL topped the listing of UPI beneficiaries with 283.5 crore transactions, as reported by the National Payments Corporation of India (NPCI).
Despite the RBI directive affecting Paytm Payments Bank’s skill to simply accept deposits or top-ups after February 29, Paytm ensures that its UPI and invoice fee providers, together with the Bharat Bill Payment Operating Unit (BBPOU), will proceed with out disruption. Users can nonetheless make the most of the Paytm app for invoice funds, recharges, and different transactions, with the corporate sustaining assist for numerous fee choices.
The RBI’s directions permit clients to withdraw or make the most of their balances with out restrictions till exhausted. Paytm Wallet customers can perform transactions till February 29, after which they’ll use their current stability till depleted, however they will not have the ability to add any extra funds. This applies to PPBL accounts, Paytm wallet-linked providers like Fastag, and National Common Mobility Cards used for public transport.
(With PTI inputs)
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Source: www.indiatvnews.com
