Paytm Payments Bank announced that it had become an official acquiring partner for the government’s e-RUPI service. The bank has partnered with Paytm parent One97 Communications Ltd (OCL) to hold the latter’s merchant base. With this, Paytm’s merchants will now collect payments through e-RUPI.

e-RUPI is a cashless prepaid voucher that beneficiaries can present through SMS or QR Code. Paytm’s merchant partners can scan, enter the amount to be paid and receive the payment directly into their bank accounts. The scheme was launched in August last year to help individuals with formal banking services or smartphones to support the comfort of digital payments. “With the approval of e-RUPI vouchers, merchants will be able to promote cashless payments, which will drive the government’s mission of introducing more Indians to the digital economy,” Satish Gupta, Managing Director and CEO of Paytm Payments Bank, said.