After Axis Bank, HDFC and Yes Bank submit Third Party Application Provider (TPAP) application for Paytm UPI business

 On Feb-23-2024, RBI said that customers and merchants having ‘@paytm’ handles are to be migrated seamlessly from PayTm Payments Bank Limited (PPBL) to a set of newly identified banks to avoid any disruption.

One97 Communications, which runs the PayTm brand, and private sector lenders HDFC Bank and Yes Bank have jointly applied to be a Third Party Application Provider (TPAP) with the National Payments Corporation of India (NPCI) on Feb-22-2024 for running the mobile payments platform Unified Payments Interface (UPI).

Early this week, Moneycontrol reported that Axis Bank and Paytm had submitted a joint application with NPCI to be a Third Party Application Provider (TPAP).

All three banks have been in discussions with National Payments Corporation of India (NPCI), the entity overseeing and regulating UPI, over the past few days. National Payments Corporation of India (NPCI) is expected to expedite the process to ensure that customers do not encounter any difficulties using the PayTm app for UPI payments.

On Feb-23-2024, RBI said customers and merchants having ‘@paytm’ handles are to be migrated seamlessly from PayTm Payments Bank Ltd (PPBL) to a set of newly identified banks to avoid any disruption.

PayTm, Axis Bank, HDFC Bank, Yes Bank and National Payments Corporation of India (NPCI) did not respond to Moneycontrol queries on the partnership to be a Third Party Application Provider (TPAP) player. 

Comments

Post a Comment

Popular posts from this blog

In India, Paytm Payments Bank meltdown. When it will back in the market for all financial operations

Son of a schoolteacher from Aligarh district in Uttar Pradesh, Vijay Shekhar Sharma was enamoured by Jack Ma-run Alibaba's focus on smartphones rather than desktop computers, when he built a digital payments company that would let Indians pay for vegetables, pay utility bills or buy cinema tickets using their mobile phones. Mr. Sharma, the poster boy of India's fintech boom, also set out to build an Alipay-like mobile marketplace to go alongside the payments business, allowing businesses to sell goods from matchbox to iPhones online. With fame came a set of controversies for arguably the most high-profile of a wave of Indian tech entrepreneurs. But none like the one now. The current crisis where the Reserve Bank of India (RBI) has ordered Paytm Payments Bank to halt most of its business, is an existential one. What was the recent RBI action against Paytm Payments Bank all about? RBI last week ordered Paytm Payments Bank Ltd, a restricted bank that can take deposits but cannor l...
Read more

Google I/O 2024 - Gemini 1.5 Pro, Gemini app, A.I. in Google Search and more announced

At the annual developer conference, Google CEO Sundar Pichai announced that Gemini 1.5 Pro that was announced just two months ago, will now be available to the public via Gemini Advanced In Short: Sundar Pichai opens Google I/O 2024 discussing AI Over 2 billion users and 1.5 million developers use Gemini Gemini 1.5 Pro now available to all via Gemini Advanced At the Google I/O 2024, Sundar Pichai opened the event talking about the biggest talking point for both its users and developers –– A.I. Sundar Pichai claims that over 2 billion users use Gemini, and more than 1.5 million developers use Gemini APIs. At the event, as expected, Sundar Pichai announced the expansion and deeper integration of AI within its apps and products. Pichai announced integration of Gemini A.I. into Google Photos. With the integration, you can ask Google Photos to simply, say, tell you what your license plate number is, or something even more specific. Gemini will look through your images and show you the answe...
Read more

Google said A.I. over 121 times during its 2 hour keynote

Sundar Pichai, Google's CEO, emphasized the significance of A.I. in simplifying tasks and enhancing productivity during the keynote address, which featured numerous mentions of A.I. totalling up to 121. Google's recent I/O conference was brimming with A.I-related announcements, showcasing the company's continued focus on integrating A.I. into various aspects of its ecosystem. Sundar Pichai, Google CEO, emphasized the significance of A.I. in simplifying tasks and enhancing productivity during the keynote address, which featured numerous mentions of A.I. totalling up to 121. One of the central highlights of the event was Google's Gemini A.I. models, which are being deeply integrated into applications such as Workspace and Chrome. The Gemini A.I. model received a notable update with the introduction of a faster version called Gemini Flash, aimed at competing with OpenAI's latest GPT Iteration GPT-4.0. In addition to Gemini, Google introduced significant changes to its ...
Read more