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Paytm secures license it needed to survive
The National Payments Corporation of India, the firm that built the eponymous UPI payments rail in the country, approved Paytm's application to The National Payments Corporation of India has approved Paytm's application to participate in UPI network as a third-party application provider.
The National Payments Corporation of India, the firm that built the eponymous UPI payments rail in the country, approved Paytm’s application to participate in the payments ecosystem as a third-party application provider, delivering much-needed relief to the financial services firm that serves more than 300 million users and over 10 million merchants in the South Asian market. “This will enable existing users and merchants to continue to do UPI transactions and AutoPay mandates in a seamless and uninterrupted manner. OCL has been advised to complete migration for all existing handles and mandates, wherever required, to new PSP banks at the earliest.”
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