Paytm New UPI ID 2024: The Reserve Bank of India has discontinued Paytm payments bank in India due to a violation of RBI policies 2024 after 15 March 2024. Reserve Bank of India has not completely disclosed the services of the Paytm mobile application (Paytm App) but users who were using Paytm payment Bank or services allied with Paytm payment Bank including Paytm upi ID, Paytm fastag, etc will be affected.
As the Paytm mobile application is very famous in India and most of the reasons are using Paytm upi ID for online transactions, so Reserve Bank of India has provided guidelines for PayTM company to exchange upi IDs of their customers. So if you are also using Paytm upi ID then you should immediately change your upi ID (Paytm New UPI ID 2024) by following the procedure in this article “Paytm New UPI ID Update 2024“.
Paytm New UPI ID 2024
One 97 communications -ONC is authorised by National payment corporation of India – NPCI. RBI has advice to the parent company of Paytm mobile application ONC to transfer upi ID of the customers of Paytm. The company will help to the customer to provide you care facilities of Paytm in other banks which are partner banks of Paytm due to new rules of RBI. So anyone who have a upi ID (Paytm New UPI ID 2024) which is ending with @Paytm have to change their suffix of UPI ID.
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4 partners Bank of Paytm
The NPCI, which stands for the National Payments Corporation of India, gave permission to a company called OCL to be a Third-Party Application Provider (TPAP). This means OCL can work with certain banks to provide services. The banks OCL partners with are Axis Bank, HDFC Bank, State Bank of India (SBI), and YES Bank.
In simple terms, NPCI allowed OCL to team up with these banks to offer services to people. It’s like giving OCL the green light to collaborate with these banks and make things easier for customers. These companies will provide facility of changing the upi ID of the customer who are using Paytm mobile application. Most of the citizens are using single upi ID for a long time and have a large contact to receive payment through Paytm upi ID. So it will very difficult for them to change their new upi ID. However it is also difficult to find out same username for creating a new upi ID.
So citizens can change only suffix which is the last word after @ in the upi ID by using Paytm mobile application. So there upi ID will not affected and can also transfer the ID from Paytm to other partner banks. So if you decide to transfer your upi ID from Paytm to HDFC Bank then you will get @ PTHDFC, user who decide to switch on Yes Bank will get suffix of @ptyes. Apart from this if you decide to exchange your up ID to the Axis Bank then you will receive @ptaxis. SBI is also one of the partner Bank of Paytm where uses will receive @ptsbi suffix in the new upi ID.
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Change Paytm upi ID 2024
There is very simple way to apply for change your upi ID in Paytm mobile application where you have to follow the following procedure in Paytm mobile application:
- Open the Paytm mobile app in your smartphone and go to your profile link
- After date you will get the link of upi and payment setting
- Once you click on this section you can see the edit link.
- After that you have to click on the manage upi ID and select any one partner Bank of Paytm which will be available on the mobile app.
- After that you will receive verification code on your registered mobile number with Paytm to confirm your settings.
Once you confirm the OTP your application will be submitted and authority will change your upi ID to the partner Bank of Paytm and you can use it at anywhere for money transfer facilities through online mode.