Paytm UPI service comes under Paytm Payments Bank, which was recently barred by the Reserve Bank of India from accepting money from customers after February 29.
But the relief news for customers is that UPI services (UPI services on Paytm continue) will continue to work normally, because the company is working with other banks to continue it. Recently, the company is facing a lot of problems due to the order given by the Reserve Bank regarding Paytm. People who use the app of this company also have many types of concerns.
The biggest concern is whether it will now be possible to make UPI payments through Paytm easily everywhere or not? Recently the company has given a statement regarding this confusion of the customers. If you also use Paytm app, then know whether the company’s UPI (Paytm UPI services) services will continue in future or not.
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Paytm UPI service comes under Paytm Payments Bank, which was recently barred by the Reserve Bank of India from accepting money from customers after February 29. But the relief news for customers is that UPI services (UPI services on Paytm continue) will continue to work normally, because the company is working with other banks to continue it. Paytm spokesperson said, “UPI on Paytm will continue to work normally. We are working with other banks to ensure continuity of service without any disruption. “Users do not need to do anything separately.”
With 144 crore transactions
Paytm Payments Bank Ltd (PPBL) was the top UPI beneficiary among banks in December, according to National Payments Corporation of India (NPCI). Customers had made 144.25 crore transactions worth Rs 16,569.49 crore on Paytm Payment Bank app in December. Paytm’s Bharat Bill Payment Operating Unit (BBPOU) business also comes under PPBL. This service facilitates bill payments like electricity, water, school and university fees.
What will happen to Paytm wallet?
When asked about the impact of the RBI move on bill payments through BBPOU, a Paytm spokesperson said, “Please know that Paytm users can continue to use the app for all bill payments and recharges as usual. Paytm will continue to offer a variety of payment options for your convenience.” Along with this, let us also tell you that users using Paytm wallet can do transactions till February 29. After February 29, they will be able to use their existing balance until it gets exhausted. But they will not be able to add additional money to the wallet.
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