Paytm defuses India's payments licensing crisis, gets approval as digital payments platform for consumers : Four Square Payments India

Paytm, India's version of Alipay, has successfully secured key payment licences and transformed itself into a consumer-facing digital payments platform, while continuing to maintain its position in the Indian payments market. The National Payments Corporation of India (NPCI) has announced that a number of banks, including Axis Bank Ltd., HDFC Bank Ltd., State Bank of India Ltd. and Yes Bank Ltd. will offer peer-to-peer (P2P) or Unified Payments Interface (UPI) payments on the Paytm platform.