Paytm Payments Services has been granted “in-principle” authorisation from the Reserve Bank of India (RBI) to function as an online payment aggregator, according to a regulatory filing by its parent company, One 97 Communications. This approval lifts a previous restriction, which was imposed on November 25, 2022, preventing the company from onboarding new merchants.
One 97 Communications stated in its filing that its wholly-owned subsidiary, Paytm Payments Services Limited (PPSL), received the authorisation from the RBI via a letter dated August 12, 2025. The filing further confirmed that this allows PPSL to “operate as an Online Payment Aggregator under the Payment and Settlement Systems Act, 2007”.
The company had initially applied for this licence in March 2020. However, the approval faced delays due to compliance issues related to Foreign Direct Investment (FDI). The clearance from the central bank comes less than two weeks after the Chinese firm, Alibaba Group, sold its entire stake in One97 Communications, exiting the company.
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