Axis and Yes Bank’s UPI Handles Now Live on Paytm: @paytm UPI Service Continues with 4 Partner Banks

Paytm has gone live with UPI services on Yes Bank and Axis Bank, allowing users to create new UPI handles. Previously, UPI services on the Paytm app were available through Paytm Payments Bank, but RBI has imposed a ban on this bank.

Paytm Payment Bank provided users with the @Paytm handle. Now users will also have the option of @ptyes and @ptaxis handles from Yes Bank and Axis Bank, respectively. Users who have been using the @paytm handle will continue to operate their UPI as before.

Paytm has partnered with 4 banks, offering 5 handles after the ban on Paytm Payment Bank. One 97 Communications, the parent company of Paytm, has partnered with four banks to offer UPI services, providing 5 handles in total. Besides @paytm, @ptyes, and @ptaxis, handles include @pthdfc and @ptsbi.

Three handles are currently active, with HDFC and SBI handles to be activated shortly. Handles from Yes Bank and Axis Bank are now live, while handles from HDFC and SBI, @pthdfc, and @ptsbi, are not yet active. Redirects to Yes Bank will be provided for Paytm Payment Bank’s @Paytm handle.

RBI imposed a ban on Paytm Payment Bank on January 31. The Reserve Bank of India (RBI) had issued an order to halt all banking activities of Paytm Payment Bank due to non-compliance with regulatory rules and various irregularities after February 29. The order was issued on January 31 and later extended by RBI until March 15.