Key Points
OCL has been advised to complete migration for all existing handles and mandates, wherever required, to new PSP banks at the earliest ..
The National Payments Corporation of India (NPCI) has granted approval to One97 Communications Limited (OCL) to participate in UPI as a Third-Party Application Provider (TPAP) under multi-bank model...
This will enable existing users and merchants to continue to do UPI transactions and AutoPay mandates in a seamless and uninterrupted manner...
A TPAP or Third-Party Application Provider facilitates UPI-based payment transactions via mobile wallets, merchant apps, or any other platform that utilises UPI for payments...
TPAPs leverage UPI infrastructure and work with payment service providers (PSPs) and banks to facilitate transactions..
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