New Delhi: Fintech firm One97 Communications announced that its subsidiary, Paytm Payments Services Limited (PPSL), has received approval from the Reserve Bank of India (RBI) to operate as a Payment Aggregator for physical or offline payments and cross-border transactions.
Online, Offline, and Cross-Border Coverage
The new authorisation is in addition to the online Payment Aggregator licence granted by the RBI on November 26, 2025. In a regulatory filing, Paytm said the central bank approved PPSL on December 17, 2025, under the Payment and Settlement Systems Act, 2007. With this, PPSL now holds Payment Aggregator approvals across online, offline, and cross-border segments, enabling end-to-end payment services for merchants.
Boost for Merchant Payment Solutions
The expanded licence allows PPSL to support a wider range of merchant use cases, including in-store payments, digital transactions, and international payments. This is expected to strengthen Paytm’s payment infrastructure and improve service offerings for businesses operating across multiple channels.
PPSL first applied for a Payment Aggregator licence in November 2020 under RBI guidelines. In November 2022, the RBI rejected the application and asked the company to reapply after complying with Press Note 3 under foreign direct investment rules.
To meet regulatory requirements, One97 Communications filed an application with the Government of India on December 14, 2022, for past downstream investment into PPSL. After completing the compliance process, PPSL has now secured full regulatory clearance, marking a key milestone in Paytm’s payments business.
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