Paytm Has Stopped New Customer Onboarding

anmolbhard004

anmolbhard004

Always...
Enclave Plus
Galvanizer
I changed my phone number in my axis bank account and now every time a error was thrown that we cant link your bank ac to paytm

on asking to paytm on x they confirmed they have stopped new customers onboarding for time being.


photo_2024-05-17 13.38.51.jpeg
photo_2024-05-17 13.39.02.jpeg
 
Paytm payments bank ban by rbi was in news everywhere 2-3 months ago, it was expected. Paytm upi was originally linked to paytm payment bank so once it was banned by rbi the paytm upi handle itself became non-functional but that would have inconvenienced millions of customers so rbi allowed paytm upi handle to remain & be distributed to various banks to let it remain functional. But it also means that no new paytm upi handle will be issued unless paytm setup a new contract with banks which it apparently yet to do.
 
guest_999 said:
Paytm payments bank ban by rbi was in news everywhere 2-3 months ago, it was expected. Paytm upi was originally linked to paytm payment bank so once it was banned by rbi the paytm upi handle itself became non-functional but that would have inconvenienced millions of customers so rbi allowed paytm upi handle to remain & be distributed to various banks to let it remain functional. But it also means that no new paytm upi handle will be issued unless paytm setup a new contract with banks which it apparently yet to do.
Click to expand...
new contract is already up and running those using paytm are aware of that yes bank, axis bank and sbi are already providing upi handles to paytm app now
 
anmolbhard004 said:
new contract is already up and running those using paytm are aware of that yes bank, axis bank and sbi are already providing upi handles to paytm app now
Click to expand...
From what I know, that is a temporary/status quo arrangement because those handles were not asked to redo their kyc which is what is required in case of any new upi handle partner bank being appointed. If a new customer now wants paytm upi handle then their kyc should be done fresh & will be handled by the partner bank not paytm just like it is the case for gpay/phonepe etc.
 
Top Bottom