Paytm gets approval from National Payments Corporation to onboard new UPI users

In a move that is expected to come as a relief to Paytm, the National Payments Corporation of India (NPCI) has granted approval to the company to onboard new UPI users, subject to adherence to all procedural guidelines and circulars.

"We would like to inform you that vide letter dated October 22, 2024, the National Payments Corporation of India (NPCI) has granted approval to the company to onboard new UPI users, with adherence to all NPCI procedural guidelines and circulars", Paytm said in a late-evening BSE filing, that also attached the NPCI letter granting the nod.

According to the letter, the approval is subject to adherence to all NPCI procedural guidelines and circulars issued from time to time, including guidelines and circulars issued specifically on risk management, brand guidelines for app and QR, multi-bank guidelines, TPAP Market share and customer data.