HOW TO CHANGE DEFAULT UPI ACCOUNT ON PAYTM
Image: Paytm
18 March 2024
Image: Reuters
India's payments authority NPCI on March 4 granted Paytm parent One97 Communications Limited a third-party application provider license
This has enabled it to facilitate payments in the wake of its banking unit - Paytm Payments Bank - ceasing operations
Image: X/@PaytmBank
Four banks - Axis Bank, HDFC Bank, State Bank of India and YES Bank - have been authorised to act as Payment System Provider banks
Image: Reuters
Here's how to update your default bank account on Paytm app
Image: Reuters
In the 'Profile menu' tap on "UPI & Payments Settings"
Image: Reuters
Tap on the bank account you want to select as default Bank account
Image: Reuters
Now tap "Set as default" and confirm by tapping "Yes"
Image: AFP
This effortless switching of bank account from PPBL to another bank of users' choice will allow them to receive UPI payments on Paytm
Image: Reuters
UPI is India's real-time payments system that allows users to transfer money across banks
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Paytm processed 1.41 billion transactions in February, down from 1.57 billion transactions a month ago, according to NPCI website
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