SEBI approves @Paytm UPI handle; Paytm Payments Bank now enables fast & seamless applications for IPO

By
admin
-
0
773
  • @Paytm UPI handle now allowed users for IPOs powered by Paytm Payments Bank superior technology
  • PPBL registers the lowest technical decline rate of 0.02% as compared to all UPI remitter banks & 0.04% as compared to all UPI beneficiary banks, as per the NPCI report
  • Benefits millions of Paytm UPI handle users to invest in capital markets across any stockbroker
  • Aims to encourage digital users to apply for IPO and build a strong wealth portfolio

Mumbai, 15th March 2021: India’s homegrown Paytm Payments Bank Ltd (PPBL) today announced that it’s @Paytm UPI handle has received approval from the Securities and Exchange Board of India (SEBI) to enable fast and seamless payment mandates for IPO application. This move benefits millions of users to invest in capital markets through various brokerage platforms using their @Paytm UPI handle. PPBL is the largest UPI beneficiary bank and has one of the best technology infrastructures for processing UPI transactions. As per the latest NPCI report, it registers the lowest technical decline rate of 0.02% as compared to all UPI remitter banks & 0.04% as compared to all UPI beneficiary banks.


Paytm Payments Bank has also entered into a partnership with Paytm Money to enable payment mandates for IPO applications. Paytm Money is India’s growth enabler for wealth products and is on a mission to bring 10 million Indians to equity markets by FY’22. The platform’s stockbroking offering is helping to bring in more active direct equity investors in an underpenetrated segment. It aims to open over 3.5 lakh demat accounts by year-end and expects 60% of users to be from small cities. It is focused on wealth creation with investments in Initial Public Offers (IPOs) and has made the process of IPO application completely digital & simple.


Besides Paytm Money, @paytm UPI will soon be activated across all brokerage platforms. The ease of making payments seamlessly in a secure manner will help in promoting IPOs as a wealth product and encouraging more new users to begin their journey in building a healthy portfolio.