Paytm gets RBI nod to operate as payment aggregator
New Delhi, Aug. 13 -- The Reserve Bank of India (RBI) has given Paytm Payments Services Ltd (PPSL) an in-principle approval to operate as an online payment aggregator, the company's parent One 97 Communications Ltd said in an exchange filing on Tuesday. Paytm will now be able to onboard new customers.
The authorisation, which applies only to online payment aggregator operations, as defined under RBI norms, paves the way for the firm to expand digital payments. "Merchant onboarding restrictions placed on Paytm Payments Services Limited (PPSL) vide letter . dated November 25, 2022, stand withdrawn from the date of this letter," the filing said, citing the RBI approval.
Paytm, the wholly-owned subsidiary of One 97 Communications, had reapplied...
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