“Paytm Shares Surge 5% as NPCI Approval Sparks Investor Optimism”
Discover the latest surge in Paytm shares as investor optimism soars following the approval from the National Payments Corporation of India (NPCI). One97 Communications, the parent company of Paytm, witnessed its shares rise by 5.00% to reach 370.70 rupees each.
The approval from NPCI allows Paytm to participate in UPI (Unified Payments Interface) services as a Third-Party Application Provider (TPAP), ensuring seamless UPI transactions and AutoPay mandates for users and merchants. This significant milestone underscores Paytm’s commitment to innovation and enhancing its financial technology offerings.
Unlike competitors like PhonePe or Google Pay, Paytm, leveraging its banking arm, did not require a separate TPAP license. As part of the new partnership, Yes Bank, Axis Bank, SBI, and HDFC Bank will serve as Payment Service Providers (PSPs) for Paytm, with Yes Bank tasked with managing existing Paytm Payments Bank Limited (PPBL) UPI users.
Despite a slight dip in monthly transactions from January to February, Paytm remains the third-largest UPI payments app in India, processing 1.41 billion transactions in February alone. With nearly 12% share in UPI payments, Paytm continues to play a significant role in shaping India’s digital payments landscape.
As Paytm solidifies its position in the fintech sector with NPCI approval and strategic partnerships, investors are eyeing its future growth trajectory with heightened optimism. Stay tuned for further updates on Paytm’s journey as it continues to innovate and evolve in the dynamic world of digital finance.