Paytm- Big news for Paytm users. The National Payments Corporation of India (NPCI) has provided significant relief to consumers and merchants. All autopays associated with the old @Paytm UPI handle will continue to operate until October 31, 2025. Previously, they were scheduled to be discontinued on September 1. This decision will provide relief to approximately 100,000 customers.
This is the third extension of the deadline, and the corporation has urged merchants to immediately transfer their active AutoPay accounts with Paytm to the new banks to avoid inconvenience to customers. It is reported that many customers have not yet canceled the AutoPay linked to their Paytm handle. Despite repeated reminders, many have not taken this step. This decision will provide relief to around one lakh customers, whose automatic installments of services like mobile recharge, electricity-water bills, OTT platforms and insurance premium were linked to the old @Paytm handle.
What is the matter?
It’s worth noting that the RBI banned the use of Paytm handles last year due to glitches at payments banks. Following this, the National Payments Corporation of India ordered all @paytm handles to be transferred to other banks. However, many old handles are still linked to AutoPay, posing a risk of missed payments.
You need to cancel the AutoPay linked to your @paytm handle and set up a new AutoPay with the new bank handle. Autopay technically cannot be changed without customer consent, so customers must make the change themselves.