One97 Communications Ltd (OCL), the company that owns Paytm, was given permission by the National Payments Corporation of India on Thursday to take part in UPI as a third-party application provider (TPAP) in the multi-bank model.

Customers of Paytm will be able to use the app to make payments through the widely used unified payment interface (UPI) in India as long as the license is maintained. The RBI had asked Paytm Payments Bank Ltd (PPBL), the company’s banking division, to stop operations by March 15 due to noncompliance with specific regulations.

According to NPCI, four banks, namely Axis Bank, HDFC Bank, State Bank of India and YES Bank, shall act as PSP (payment system provider) banks to the OCL.

YES Bank shall act as the merchant acquiring bank for the UPI merchants for the OCL. The OCL has also been advised to complete the migration for all existing handles and mandates to new PSP banks.

Four banks—Axis Bank, HDFC Bank, State Bank of India, and YES Bank—will serve as PSP (payment system provider) banks to the OCL, according to the NPCI.

For the OCL, YES Bank will serve as the merchant acquiring bank for UPI merchants. Additionally, the OCL has been