New Delhi: Financial services major Paytm on Friday clarified that Google Play’s recent notification on unified payments interface (UPI) handle changes was incomplete and may have created confusion.
The company emphasised that there is no disruption to UPI payments on Paytm and both consumer and merchant transactions remain seamless.
The update is relevant only for recurring payments such as subscription billing.
“This means that if a user was paying for YouTube Premium or Google One storage or to any recurring platform through Paytm UPI, they will simply need to change their old @paytm handle to the new handle linked to their bank which is @pthdfc, @ptaxis, @ptyes or @ptsbi,” Paytm explained.
For example, if a UPI ID was abcd@paytm, it will now be abcd@pthdfc (or as per the bank). One-time UPI payments are not impacted and continue as usual.
Paytm noted that this transition is part of its migration to new UPI handles after receiving approval from the National Payments Corporation of India (NPCI) to operate as a Third Party Application Provider (TPAP).
The deadline to complete the update for recurring mandates is August 31, 2025, which is why Google Play issued its alert.
Reassuring customers, Paytm said this is a simple update to ensure uninterrupted recurring payments while all other UPI transactions on the app continue without any change.
Paytm reported a profit after tax (PAT) of Rs 123 crore in Q1 FY26, while the company’s operating revenue grew 28 per cent year-on-year (YoY) to Rs 1,918 crore. For the June-ending quarter, EBITDA stood at Rs 72 crore, underscoring Paytm’s disciplined approach towards cost structure and driving growth and efficiency through embedded AI capabilities.
Paytm has extended its leadership in India’s merchant payments landscape, as it continues to add new device subscriptions across MSMEs and enterprises.
(IANS)
