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The Reserve Bank of India (RBI) has issued a Payment Aggregator (PA) license to the Paytm Payments Services Ltd. (PPSL) i.e., a wholly owned subsidiary of One 97 Communications Ltd. In an official letter dated 12 August 2025, the approval was conveyed and disclosed through stock exchange filings.
This decision is a turnaround for Paytm after the Central Bank’s rejection of the entity’s payment aggregator license application in November 2022. At that time, the RBI instructed the company to reapply while ensuring compliance with foreign direct investment regulations. The previous rejection had led to restrictions on onboarding new merchants, which have now been lifted with this new approval.
In a filing with exchanges, One 97 Communications said, “We would like to inform you that Reserve Bank of India 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.”
It is important to note that this approval authorizes the entity to conduct online aggregator operations only. It does not cover other payment activities outside the Payment and Settlement Systems Act 2007 and RBI guidelines.
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