Shares of One97Communication, the parent organisation of payment aggregator platform Paytm, will be in focus heading into Thursday’s day of trade following a recent authorisation from the Reserve Bank of India.
The central bank has granted Paytm the authorisation to operate not only as an online but an offline payment aggregator as well. RBI has also given authorisation for Paytm to operate cross-border transactions for both inward and outward flows, the company confirmed through an exchange filing.
The RBI authorisation was accorded to Paytm’s wholly-owned subsidiary Paytm Payments Services Limited (PPSL) and serves as a significant expansion opportunity for the payment aggregator platform.
Not to mention, this comes on the back of Paytm receiving online payment aggregation authorisation last month.
Paytm had recently made an additional investment of Rs 2,250 crore in Paytm Payments Services Limited through a rights issue.
In the exchange filing, Paytm noted that with the receipt of this letter, PPSL now holds Payment Aggregator licences across all key segments.
