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Paytm Wins Key Payments Approval It Needs to Stay in Business

Paytm has won approval to become a consumer digital-payments platform, helping the beleaguered fintech continue a bulk of its business even as its banking affiliate is getting wound down.Lenders Axis Bank Ltd., HDFC Bank Ltd., State Bank of India Ltd. and Yes Bank Ltd. will power peer-to-peer or UPI payments on Paytm, the National Payments Corporation of India said Thursday. State-backed Unified Payments Interface is a pioneering system that allows users to make instant money transfers by linkin...

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