Paytm Receives NPCI Approval To Onboard New UPI Users

Paytm, under One 97 Communications Ltd., has received approval from the National Payments Corporation of India (NPCI) to start onboarding new users to its UPI platform. The approval comes as a significant development for the company, as it enables Paytm to grow its UPI user base while adhering to NPCI guidelines and procedural standards. This move reaffirms Paytm’s commitment to expanding its digital payment ecosystem, enhancing convenience for new users in the growing UPI space.

Key Points:

  1. Approval from NPCI: NPCI has granted Paytm the approval to onboard new UPI users after following procedural guidelines.

  2. Significance: This allows Paytm to expand its UPI user base, offering digital payment services to more customers across India.

  3. Compliance: The company will continue to comply with NPCI’s procedural standards and circulars as it scales up UPI operations.

  4. Impact: This is expected to strengthen Paytm’s position in the competitive UPI payments market, where companies like Google Pay and PhonePe dominate.

This approval marks another step in Paytm’s mission to lead digital transactions, ensuring users have broader access to seamless payment options.