Paytm Payments Services, a subsidiary of One 97 Communications, has received the Reserve Bank of India’s final approval to operate as a payment aggregator under the Payment and Settlement Systems Act, 2007.
As per the regulatory filing dated November 26, RBI has issued PPSL a Certificate of Authorisation under the Payment and Settlement Systems Act, 2007.
The approval allows PPSL to fully resume its online payments operations, including onboarding new merchants. This comes after the subsidiary had been operating under an in-principle approval granted earlier this year.
The authorisation marks the end of a long regulatory process for Paytm’s payments arm, which had faced restrictions on merchant onboarding since RBI returned its licence application in 2022.
