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India.com
7 days ago
- Business
- India.com
Good news for Paytm, gets big relief from RBI; gets license of…, central bank also lifts ban on…
Paytm's parent company, One 97 Communications, announced in a Tuesday filing that its subsidiary, Paytm Payments Services, has secured approval from the Reserve Bank of India to operate as an online payment aggregator. The move also removes restriction on Paytm Payments Services Limited from onboarding new merchants which was imposed on the company on November 25, 2022. Paytm Payments Services Gets RBI Nod 'Paytm Payments Services Limited (PPSL), a wholly-owned subsidiary of One 97 Communications Limited (OCL or the Company), for a Payment Aggregator (PA) licence. We would like to inform you that Reserve Bank of India ('RBI') has granted 'in-principle' authorisation to PPSL vide its letter…dated August 12, 2025, to operate as an Online Payment Aggregator under the Payment and Settlement Systems Act, 2007,' the filing said. The company had applied for the permit in March 2020 but the approval was stuck due to certain compliance issues related to Foreign Direct Investment in the company. What Were RBI's Restrictions On Paytm? RBI imposed restrictions on Paytm Payments Bank in January 2024. This led to a major decline in Paytm's revenue. To overcome this setback, Paytm focused on cutting expenses, selling non-core assets like Paytm Insider and restructuring the merchant lending business. RBI's decision will provide great relief to Paytm. After almost three years of regulatory uncertainty, Paytm will be able to resume merchant onboarding and move forward towards expanding its digital payment infrastructure.
Time of India
12-08-2025
- Business
- Time of India
Paytm Payments Services gets 'in-principle' nod from RBI to operate as online payment aggregator
Paytm Payments Services received in-principle approval from the RBI to operate as an Online Payment Aggregator, subject to compliance with regulatory guidelines. The approval mandates a system audit, including a cyber security assessment, to be completed within six months. Failure to comply will result in the authorization lapsing, and adherence to guidelines on shareholding changes is also required. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Paytm Payments Services Limited on Tuesday said it has received in-principle nod from the Reserve Bank of India RBI ) operate as an Online Payment Aggregator under the Payment and Settlement Systems Act , approval is subject to compliance with the RBI's Guidelines on Regulation of Payment Aggregators and Payment Gateways issued on March 17, 2020, and related clarifications released on March 31, 2021, One97 Communications Ltd informed the authorisation applies only to online payment aggregator activities defined in the guidelines and excludes transactions outside their ambit, such as 'pay-out' transactions for merchants through the designated escrow part of the conditions, RBI has advised PPSL to conduct a system audit, including a cyber security audit , through a CERT-In empanelled auditor, a Certified Information Systems Auditor (CISA) registered with ISACA, or a holder of the DISA qualification from the Institute of Chartered Accountants of audit must also assess compliance with the Master Direction on Cyber Resilience and Digital Payment Security Controls for non-bank payment system operators issued on July 30, 2024, and the RBI's circular on payment system data storage dated April 6, company must submit the system audit report within six months from the date of the letter. Failure to do so will result in the in-principle authorisation lapsing automatically, and the final authorisation will not be considered, Paytm has also advised PPSL to follow the July 4, 2022 guidelines on obtaining prior approval in cases of change in shareholding, acquisition of control, or transfer of payment system activities for non-bank payment system operators.
Time of India
12-08-2025
- Business
- Time of India
Paytm Payments gets RBI nod to operate as online payment aggregator
Academy Empower your mind, elevate your skills The Reserve Bank of India has permitted Paytm Payments Services to operate as an online payment aggregator , parent One97 Communications told exchanges on on onboarding merchants against Paytm Payments Services have been withdrawn, the RBI said in the letter to the Paytm in-principle authorisation to Paytm Payments Services covers only payment aggregator (PA) operations as defined in Guidelines on Regulations of Payment Aggregators and Payment Gateways, RBI which do not fall under the ambit of the PA-PG guidelines, including pay-out transactions undertaken on behalf of merchants, cannot be routed through escrow accounts designated for PA operations, the central bank further stated.
Yahoo
12-08-2025
- Business
- Yahoo
India's Paytm Payments Services gets central bank nod to operate as online payment aggregator
BENGALURU (Reuters) -Indian fintech firm Paytm on Tuesday said its unit Paytm Payments Services has got 'in-principle' approval from the country's central bank to operate as an online payment aggregator. Sign in to access your portfolio
Reuters
12-08-2025
- Business
- Reuters
India's Paytm Payments Services gets central bank nod to operate as online payment aggregator
BENGALURU, Aug 12 (Reuters) - Indian fintech firm Paytm ( opens new tab on Tuesday said its unit Paytm Payments Services has got 'in-principle' approval from the country's central bank to operate as an online payment aggregator.
