SEBI approves @Paytm UPI handle

Paytm Payments Bank, on Monday, announced that its @Paytm UPI handle has been approved by the Securities and Exchange Board of India (SEBI) to enable payment mandates for IPO applications.

“This move benefits millions of users to invest in capital markets through various brokerage platforms using their @Paytm UPI handle,” it said in a statement.

Paytm Payments Bank has also entered into a partnership with Paytm Money to enable payment mandates for IPO applications.

Apart from Paytm Money, @Paytm UPI will soon be activated across all brokerage platforms, it further said.

“By enabling @Paytm UPI to apply for IPO we are giving millions of investors the ease of seamless, secure, and rapid payments to help enhance their financial portfolio,” said Satish Gupta, Managing Director and CEO, Paytm Payments Bank.

It is the largest UPI beneficiary bank and has one of the best technology infrastructures for processing UPI transactions. As per the latest NPCI report, Paytm Payments Bank registers the lowest technical decline rate of 0.02 per cent compared to all UPI remitter banks and 0.04 per cent compared to all UPI beneficiary banks.