Paytm Payment Services has received the approval of the Reserve Bank of India (RBI) to work as an online payment aggregator. Paytm’s parent company and brand owner One 97 Communications gave this information in a filing on Tuesday. According to PTI news, along with this decision, the ban on onboarding new merchants on Paytm Payment Services Limited has also been lifted, which was applicable on the company from 25 November 2022.
The company applied in March 2020
Paytm Payment Services Limited (PPSL), a fully owned subsidiary of Forest 97 Communications Limited, has received the ‘In-Principal’ approval of the Reserve Bank of India for payment aggregator license. The central bank has given permission to work as an online payment aggregator on 12 August 2025 under the Payment and Settlement Systems Act, 2007. The company applied to obtain this permit in March 2020, but was approval pending due to some compliance problems related to foreign direct investment (FDI).
Paytm can search for new merchants
This approval from the central bank came at a time when the Chinese company Alibaba Group has announced to exit its entire share from One 97 Communications. The move will help Paytm to expand its services in the digital payment sector and the company can now add new merchants.
Paytm now fully Indian company
Recently, the company said that the ownership of Paytm’s original company One 97 Communications is now completely in the hands of Indians. Industrialist Jack Ma’s company Ant Financial has sold its entire 5.84 per cent stake in Digital Payment Forum Paytm’s core company One 97 Communications for around Rs 3,980 crore. A person aware of the outline of the deal said that Paytm is now Indian like Tata. The change became official with the recent exit of Antphin (Netherlands) Holding BV, which sold the remaining 5.84 percent stake in Paytm through a bulk deal for about Rs 3,800 crore.
Latest business news
