Mumbai, April 18 -- One 97 Communications (OCL), the company that operates Paytm, has been granted permission by the National Payments Corporation of India (NPCI) to migrate its users to different banks for UPI transactions.

This development follows NPCIs approval in March for OCL to function as a Third-Party Application Provider (TPAP) within a multi-bank framework.

One 97 Communications Limited (OCL) which owns the brand Paytm, Indias leading payments and financial services company and the pioneer of QR, soundbox and mobile payments, has received go ahead, yesterday from the National Payment Corporation of India (NPCI) to start the user migration to new Payment System Provider (PSP) bank handles immediately, the release said.

Paytm w...