Paytm on Friday clarified {that a} Google Play notification that not too long ago prompted panic amongst customers concerning its UPI deal with modifications had been incomplete and will have given rise to confusion.
The funds and fintech firm, led by Vijay Shekhar Sharma, emphasised that there will probably be no disruption for customers once they make UPI payments on Paytm. Each shopper and service provider transactions will stay seamless, it stated.
Paytm clarified that he replace is related just for recurring funds comparable to subscription billing.
“Which means that if a person was paying for YouTube Premium or Google One storage or to any recurring platform by means of Paytm UPI, they’ll merely want to alter their outdated @paytm deal with to the brand new deal with linked to their financial institution, which is @pthdfc, @ptaxis, @ptyes or @ptsbi,” Paytm stated in an announcement.
For instance, if a UPI ID was rajesh@paytm, it is going to now be rajesh@pthdfc or rajesh@ptsbi (or as per the financial institution).
Nevertheless, one-time UPI payments are usually not impacted and proceed as common.
Paytm famous that this transition is a part of its migration to new UPI handles, following approval from the Nationwide Funds Company of India (NPCI) to function as a Third Social gathering Utility Supplier (TPAP).
Reassuring clients, Paytm acknowledged that this can be a easy replace to make sure uninterrupted recurring funds, whereas all different UPI transactions on the app proceed with none change.
What was the Google Play notification?
A latest notification from Google Play created panic amongst customers that Paytm UPI will now not be out there.
Google Play issued the alert as a result of the deadline for updating recurring mandates is August 31, 2025.
“On August 31, @PayTM UPI handles will probably be deprecated and gained’t be an accepted type of fee on Google Play. That is per directions by the Nationwide Fee Companies of India (NCPI),” an official notification from the Google Pay stated in its notification.
The brand new rule will come into impact from September 1.
What ought to Paytm UPI customers do now?
Paytm UPI customers who make recurring funds by means of @paytm UPI handles can do both of the next issues:
