Paytm Fastag Last Date: Will Paytm Fastag Work After 15 March 2024? Will Paytm UPI Stop Working Or Continue?

Paytm Fastag’s last date is arriving, making the users conscious about choosing a new fastag for themselves. The company is going through a lot of hurdles after RBI’s restrictions. The bank has come up with a completely different business model after these central bank updates. Paytm Bank has some updates on the UPI transactions and Fastag that we share below. The company has 15 March 2024 as the last date for the operations of its banking activities. No new deposits will be allowed after Friday. However, the company still manages to tie up with other banks to keep running its UPI transactions.

What Is Paytm Fastag’s Last Date? Will Paytm Fastag Work After 15 March 2024?

Paytm Fastag’s last date is 15 March 2024, Friday. The users of Paytm Fastag won’t be able to recharge their Fastag wallet after the above date. However, they can easily use the balance left in their Paytm Fastag wallet for the payment at toll tax. Thus, the users don’t need to worry about their existing funds. They can use their existing fastag funds after 15 March 2024. The users of Paytm are going through a lot of confusion at the moment. Many left the platform with the fear of losing their money. However, the founder assured the users about their fund’s safety with the platform. Many users are still using Paytm’s different services like Fastag and UPI.

NHAI (National Highways Authority of India) asks the Paytm Fastag users to shift to other Fastags before 15 March as they won’t be able to recharge afterward. Thus, many users are looking for the new and best suitable Fastag for themselves. For the past few years, Paytm Fastag has been the most used fastag in India. However, the search for the best fastag after Paytm increases many folds over the internet. Let us have a look at that as well.

Which Is The Best Fastag After Paytm In India?

The best Fastag after Paytm in India is defined below on the basis of the ratings people gave on the platform:

  1. HDFC Bank Fastag
  2. Axis Bank Fastag
  3. ICICI Bank Fastag
  4. Airtel Payments Bank Fastag
  5. Park+ Fastag

Will Paytm UPI Stop Working After 15 March 2024?

After Paytm Fastag, Paytm UPI’s existence is another big question among its existing users. Will Paytm UPI stop working after 15 March 2024? The answer is no. Paytm gets Third Party Application provider (TPAP) approval from NPCI (National Payments Corporation Of India). It means that the app will work as a third party to provide the UPI transaction services to its users. All the UPI users will be able to use the service after 15 March to make online payments.

Paytm UPI has top-notch competition with other payment systems like Google Pay and Phone Pay. However, the only differentiation was that Paytm had its own bank. While other payment apps like Google and PhonePe didn’t. They are on the same plains now. Paytm will be working on third parties as well.

How Yes Bank And Other Bank Support Paytm?

Yes Bank will be acquiring the existing and new UPI merchants for One97 Communications. Their handle will also get redirected to Yes Bank. Thus, Yes Bank will go through merchant KYC before beginning this process. Apart from Yes Bank, Axis Bank, State Bank of India, and HDFC Bank. All the payment apps that don’t have their own bank, connect as a third party with these banks to carry on the transactions. Thus, Paytm will now do the same after its banking business ceases. Keep reading with Charcha Times for more updates.

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Garima Kaur is a student and an author at Charcha Times. She is passionate about exploring the dynamics of business world, startups, share market, and crypto.

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