Paytm May Add HDFC Bank as a third Merchant Acquiring Partner.

This action allows HDFC Bank to become the payment service provider (PSPs) for Paytm’s UPI channel.

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Axis Bank and Yes Bank have already started working on the Paytm platform.

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Paytm’s parent company, One97 Communications Ltd, is expected to add HDFC Bank as its third partner for transferring merchants to the fintech platform.

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This step will allow HDFC Bank to become Paytm’s payment service provider (PSP) for its UPI channel.

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According to media sources, conversations are also continuing with Canara Bank and Kotak Mahindra Bank, with Canara Bank set to launch operations on the platform as early as next week.

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Paytm received the Third-Party Application Provider (TPAP) license from the National Payments Corporation of India (NPCI) on March 14.

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