Paytm to offer ₹100 cashback to UPI users post NPCI approval for migration to PSP banks

Online payment and financial services Paytm announced on May 3 that it is providing a cashback of ₹100 on all UPI payments made through its payment app. “Paytm is India’s favourite payment app! ???? Now, better with power of 4 banks Get assured ₹100 cashback on UPI payments using Paytm app," the firm said in a post on social media X. The online payment company introduced this cashback offer following its approval from the National Payment Corporation of India (NPCI) to initiate the immediate migration of users to new Payment System Provider (PSP) bank handles in March. Also read: Paytm completes merchant migration to new UPI ids After receiving approval from NPCI on March 14, 2024, to enlist OCL as a Third-Party Application Provider (TPAP) within the Multi Payment Service Provider API Model, Paytm has hastened the integration process with Axis Bank, HDFC Bank, State Bank of India (SBI), and YES Bank. All four banks are now active participants on the TPAP, facilitating a smooth