RBI’s impact: Do’s and don’ts for Paytm Payments Bank users post-deadline

By Vivek Dubey

CNBC-TV18.com

Published Mar 15, 2024

Following RBI’s deadline, Paytm Payments Bank Ltd (PPBL) has implemented new rules affecting wallet services, FASTag, merchant services, and BBPS.

Here’s what PPBL users can and cannot do after today:

Full-KYC Wallets: Users can withdraw or transfer to another wallet up to the available balance.

Wallet Services

Minimum-KYC Wallets: These wallets can only be used for merchant payments.

Wallet Services

Refunds and Cashbacks: These are allowed to be credited into wallets.

Wallet Services

Top-ups Discontinued: No top-up or money transfer allowed into PPBL wallet.

Wallet Services

Toll Payments: FASTag can be used to pay toll up to the available balance.

FASTag Services

FASTag Closure: Users can close FASTag issued by PPBL and ask for a refund.

FASTag Services

Funding Discontinued: No further funding or top-ups allowed in the PPBL FASTags.

FASTag Services

Non-PPBL Payments: Paytm QR code, soundbox or POS terminal can be used if linked to non-PPBL bank account.

Merchant Services

PPBL Payments Discontinued: Cannot accept payments via Paytm QR code, soundbox or POS terminal if linked to PPBL bank account.

Merchant Services

BBPS SERVICES

Bill Payments: Can make payments from PPBL bank account through Bharat Bill Payment System only up to balance available in the account.