The National Payments Corporation of India (NPCI) has granted approval to Paytm to onboard new UPI users, subject to the adherence to all procedural guidelines and circulars.
The move is expected to come as a relief to Paytm, which had suffered a blow following the Reserve Bank of India’s restrictions earlier this year on associate company Paytm Payments Bank Limited (PPBL) in onboarding new UPI users on the Paytm app.
In March, the NPCI gave approval to Paytm to participate in UPI as a Third-Party Application Provider (TPAP). The NPCI allowed the company to continue UPI transactions through four banks — SBI, Axis Bank, HDFC Bank and YES Bank.
