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Paytm or One97 Communications Limited has been advised by the NPCI to complete migration for all existing handles and mandates, wherever required, to new PSP banks at the earliest possible.
Customers from India will be able to pay with RuPay and UPI at point-of-sale (POS) terminals in European markets.
NPCI has given WhatsApp authority to expand its payments service to 100 million users in the South Asian market.
Nepal's last-mile consumers can do real-time person-2-person, person-2-merchant and interbank transactions. It allows Nepal to go cashless with cross-border transactions between India and Nepal.
In an official statement of the PMO it was mentioned that since it was prepaid, it assured of timely payment to the service provider without any involvement of an intermediary.
Unified Payments Interface (UPI) based payments hit a record high of 1.62 billion transactions in the month of August, according to the National Payments Corps. of India.
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