Paytm's Future Questioned Amidst Social Media Speculation: Company Responds

Paytm UPI News: Recently, various rumours regarding Paytm UPI spread on social media. Some claimed that Paytm UPI would be discontinued from 31 August, causing anxiety and confusion among users. However, Paytm CEO Vijay Shekhar Sharma has clarified that this is merely a technical change and will not inconvenience regular users.

What is Changing?

• According to Paytm, this update only affects those who frequently use the @paytm UPI handle for recurring payments such as YouTube Premium, Google One storage, or other subscriptions.
• Regular UPI users will not be affected.
• Affected users will need to change their old @paytm handle to a new handle such as @pthdfc, @ptaxis, @ptyes, or @ptsbi.
• Example: If your handle is ravi@paytm, it will now become ravi@pthdfc or ravi@ptsbi depending on the bank.

What Should Affected Users Do?

• Switch to the new UPI handle.
• Use other platforms like Google Pay or PhonePe.
• Use a card for recurring payments.

What Did Vijay Shekhar Sharma Say?

Paytm chief Vijay Shekhar Sharma clarified that the changes from 31 August are merely part of a technical process and will not inconvenience regular users. He assured users that their money would remain safe and transactions would continue as easily as before.

Why Did Rumours of Paytm's Closure Spread?

A Google Play notification alarmed users, suggesting that Paytm UPI would be discontinued. The notification actually targeted users whose recurring payment handles had not been updated. After 31 August, old @paytm handles will no longer be valid on Google Play. This incomplete information led to confusion, which Paytm has now clarified.

In summary, Paytm UPI is not shutting down. Only technical updates are being implemented, requiring users of old handles to switch to new ones. Everything will remain the same for regular users.