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Paytm App, Wallet & UPI: What Works & What Doesn’t After Feb 29, 2024

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Confusion has been swirling about Paytm’s future after the RBI’s action against its Payments Bank. Here’s a clear breakdown:

Paytm App:

  • Yes, the Paytm app will continue to function after February 29th. Paytm founder Vijay Shekhar Sharma confirmed this.
  • Most of Paytm’s services, like ordering food, booking tickets, etc., are not affected. They function through partnerships with various banks, not just Paytm Payments Bank.

Paytm Wallet:

  • Yes, you can still use your Paytm wallet after February 29th. You can add money and send/receive payments as usual.
  • However, adding money through Paytm Payments Bank will not be possible after February 29th. You’ll need to use other methods like linked bank accounts or debit/credit cards.

Paytm UPI:

  • If your UPI address is linked to Paytm Payments Bank, it won’t work after February 29th. You’ll need to link it to another bank account.
  • If your UPI is linked to another bank, it will continue to work as usual.

Paytm FASTag:

  • Paytm FASTags will continue to work even after February 29th. They are already issued and managed by other banks, not Paytm Payments Bank.

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