Do you have a @Paytm UPI handle? 4 things you should know to migrate your UPI handle

The Reserve Bank of India (RBI) has urged the National Payments Corporation of India (NPCI) to evaluate One97 Communication Ltd's (OCL) request to become a Third-Party Application Provider (TPAP) for the UPI channel so that the Paytm app can continue to operate.

"@paytm" handles can be easily moved from Paytm Payments Bank to a few newly designated banks when the OCL gets clearance from NPCI.

Also read: Can you use Paytm FASTag after March 15?


According to the RBI press release dated February 23, 2024, " As the Paytm Payments Bank cannot accept further credits into its customer accounts and wallets after March 15, 2024, certain additional steps have become necessary to (i) ensure seamless digital payments by UPI customers using '@paytm' handle operated by the Paytm Payments Bank, and (ii) minimise concentration risk in the UPI system by having multiple payment app providers. "

The RBI suggested the below additional steps:

Third-Party Application Provider (TPAP)
National Payments Corporation of India (NPCI) has been advised by the RBI to examine the request of One97 Communication Ltd (OCL) to become a Third-Party Application Provider (TPAP) for UPI channel for continued UPI operation of the Paytm app, as per the norms.

Also read: Can you get cashback or refunds in Paytm wallet after March 15, 2024?

Migration from Paytm Payments Bank to a set of newly identified banks
It has been further advised that in the event of NPCI granting TPAP status to OCL, it may be stipulated that '@paytm' handles are to be migrated in a seamless manner from Paytm Payments Bank to a set of newly identified banks to avoid any disruption. No new users are to be added by the said TPAP until all the existing users are migrated satisfactorily to a new handle.

Banks as Payment Service Provider
For seamless migration of '@paytm' handle to other banks, NPCI may facilitate certification of 4-5 banks as Payment Service Provider (PSP) Banks with demonstrated capabilities to process high volume UPI transactions. This is in line with NPCI norms for minimising concentration risk.

Settlement accounts
For the merchants using PayTM QR Codes, OCL may open the settlement accounts with one or more PSP Banks (other than Paytm Payments Bank).

How to check if your wallet handle @paytm

Step 1: Open the Paytm app on your phone and tap on your profile picture in the upper left corner of the main screen.
Step 2: Right when you click on it, your UPI ID and QR code for receiving payments will appear on the screen under your profile picture.
You can check and your UPI ID.

Customers and merchants who have UPI addresses or handles other than '@paytm' have no obligation to change them and can continue to use them, the RBI stated.

How to transfer money to a bank from Paytm Payments Bank wallet
Step 1: Tap on 'Wallet'.
Step 2: Tap on 'Send Money to Bank'.
Step 3: Enter the account number.
Step 4: Enter the account holder's name
Step 5: Enter the IFSC code of the branch. You can get the IFSC code by tapping on Find IFSC and selecting your bank, state, city and branch.
Step 6: Enter the amount you want to send. Minimum amount should be Rs 20
Step 7: You can also enter the reason for sending money. However, this is optional.
Step 8: Tap on 'Proceed'.
Step 9: You will see the details of the transaction, tap on 'Confirm'.
Your money will be successfully transferred to the bank account.