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It can continue to be the UPI third-party application just like Google Pay and Amazon Pay, but this will depend on the National Payments Corporation of India; If PPBL loses its licence, it will need another sponsor bank, which will be held responsible for PayTM’s actions
Paytm fiasco: Paytm wallet, which offers services such as FASTag, falls under Paytm Payments Bank. Paytm had previously announced that FASTags and wallets would need to be transferred to alternative banks
One97 Communications Limited, its parent firm, is reportedly holding talks with the National Payments Corporation of India (NPCI), in this regard.
Currently, those using Paytm to make UPI payments have virtual payment addresses (VPAs) ending in @paytm. After March 1, customers might find this changing to some other banks handle. Paytm aims to use three or more banks to start issuing new VPAs to its customers for use from next month, sources said.
Paytm plans to collaborate with three or more banks to issue new VPAs to its customers in order to address the transition of Paytm UPI users' virtual payment addresses (VPAs) to handles associated with other banks.