Feb 16 (Reuters) - Paytm:

* PARTNERS WITH AXIS BANK FOR ESCROW ACCOUNT TO CONTINUE SEAMLESS MERCHANT SETTLEMENTS

* BOTH OCL AND PPSL ARE ALSO IN DISCUSSIONS WITH OTHER BANKS TO EVALUATE A SECOND PARTNER FOR NODAL / ESCROW SERVICES

* ARRANGEMENT ENABLES PAYTM TO SEAMLESSLY TRANSITION ITS MERCHANTS’ SETTLEMENTS TO AXIS BANK

* ENSURES CONTINUITY OF SETTLEMENTS FOR MERCHANTS AND MINIMAL DISRUPTION FOR CUSTOMERS, VIA A NEW ACCOUNT WITH AXIS BANK. Source text for Eikon: Further company coverage: