Скачать с ютуб Paytm Gets Approval To Add New UPI User After 8-Month Ban | NPCI, RBI, Paytm Payments Bank в хорошем качестве

Paytm Gets Approval To Add New UPI User After 8-Month Ban | NPCI, RBI, Paytm Payments Bank

Paytm has received approval from the National Payments Corporation of India (NPCI) to resume onboarding new users for its Unified Payments Interface (UPI) services. This approval comes after an eight-month hiatus following regulatory actions by the Reserve Bank of India (RBI) on Paytm Payments Bank Limited in early 2024, which had prohibited Paytm from adding new UPI users due to compliance issues. The Reserve Bank of India had said that the Paytm Payments Bank cannot accept further credits into its customer accounts and wallets after March 15, 2024. The primary concern of RBI was compliance issues surrounding Paytm's UPI operations. The RBI had flagged data security, risk management practices, and overall compliance with UPI operational guidelines. This suspension significantly impacted Paytm's ability to expand its UPI user base and reduced transaction volumes, directly affecting its growth prospects in the highly competitive digital payments ecosystem. Paytm, which had been a dominant player in the UPI space, faced stiff competition from other platforms like Google Pay, PhonePe, and BharatPe during this period. The inability to onboard new users put the company at a disadvantage, especially as UPI continued to gain traction across India. Paytm’s inability to grow its user base led to a sharp decline in its market share in UPI transactions. Before the restriction, Paytm held a 13 percent share of UPI payments. However, in the absence of new users, its market share shrank to 8 percent. After months of regulatory adjustments and addressing the concerns raised by the RBI, Paytm applied to the NPCI in August 2024, seeking permission to resume the onboarding of new users. This permission was finally granted in October 2024, signaling a turning point for the company. The recent approval not only allows Paytm to expand its customer base but also alleviates regulatory uncertainties that have affected the company's performance. The NPCI's approval is contingent upon Paytm adhering to specific guidelines, including risk management protocols, brand guidelines, and regulations pertaining to Third-Party Application Providers (TPAP). This ensures that Paytm aligns with the operational and security standards mandated by the NPCI for UPI services. Following the announcement of the NPCI's approval, Paytm's shares saw a spike, reflecting renewed investor confidence. This development is particularly timely, coinciding with India's festive season, which traditionally sees a surge in digital transactions. Resuming the onboarding of new UPI users positions Paytm to capitalize on this period, potentially boosting its gross merchandise value (GMV) growth and regaining market share in the competitive digital payments landscape. While this approval is a significant positive step, Paytm is still navigating other regulatory hurdles. Notably, the company is awaiting approval from the RBI for a payment aggregator license. This is crucial for Paytm’s expansion into other financial services sectors, such as payment gateways and financial aggregation. .............................................................................................. News9 is India's first fully integrated English news brand across all digital platforms. It includes a publishing platform, viz. www.news9live.com, a future-ready OTT platform, News9 Plus, and a 24-Hour video streaming service on connected TVs and all social platforms. It's the English news brand that understands and fits perfectly into the digital-first lifestyles of our English news audiences. ► News9 Plus Website : https://www.news9plus.com/all ► News9 Plus App : https://news9plus.app.link/aPwz3P2psMb ► News9 OTT Coupons : https://bit.ly/4dwLDx4 ► Watch us on YouTube :    / news9live   ► Like us on Facebook :   / news9live   ► Follow us on Instagram :   / news9live   ► Follow us on Twitter :   / news9tweets