Paytm Gets FDI Approval For Investment In Paytm Payments Services, To Reapply For PA Licence

After months of speculation, Paytm said that it has received approval from the Centre, the finance ministry, and the department of financial services to invest in its payments arm, Paytm Payment Services Limited (PPSL) 👇

The company is now looking to apply for a payment aggregator (PA) licence from the Reserve Bank of India (RBI). “With this approval in place, PPSL will proceed to resubmit its PA application. In the meantime, PPSL will continue to provide online payment aggregation services to existing partners,” Paytm said in an exchange filing.

The company’s confirmation comes over a month after it was reported that it had received government’s approval to invest INR 50 Cr in its subsidiary. Paytm incorporated Paytm Payment Services to secure a PA licence in 2020. But, the RBI resent its application back in 2022.

📎 To read more in detail, click here: https://lnkd.in/g9wmSWZX

Credit - Inc42 Media