Paytm UPI Update: All your one-time payments will continue even after August 31. Know what changes will happen and what will be the impact on recurring payments.
If you are thinking that Paytm UPI will stop after August 31, then there is no need to worry now. The company has made it clear that all your one-time UPI payments will continue as before.
Paytm UPI Update: Will there really be a change?
For the last few days, many users received notifications from different UPI apps (like Google Pay, PhonePe, BHIM UPI), which said that Paytm UPI will not work after August 31. This raised questions in people’s minds.
Actually this change is only for recurring payments (auto payments / subscriptions). If you pay for YouTube Premium, Google One Storage or any other app / service yearly subscription through Paytm UPI, then now you will have to change your old @paytm UPI handle.
Which UPI handles will be new?
Paytm has started new bank-partner UPI handles for users, which include:
- @pthdfc
- @ptaxis
- @ptyes
- @ptsbi
Now all recurring payments will be made from these new handles.
No impact on one-time payments
The company has clarified that all normal UPI transactions like buying apps on Google Play, making payments to a shop or merchant will continue as before. That is, there will be no impact on your one-time payments.
Why is this change happening?
NPCI has approved Paytm as a Third-Party Application Provider (TPAP). Under this process, Paytm is shifting its old @paytm handles to new bank-partner handles.
What will users have to do?
- Open Paytm App and update your UPI ID to the new handle.
- For recurring payments, you can also use other apps like PhonePe, Google Pay, BHIM UPI, WhatsApp UPI.
- Apart from this, you can also make subscription payments through debit card or credit card.