Paytm Payments Services Limited (PPSL), a wholly owned subsidiary of fintech company One97 Communications Limited, stated in a regulatory filing on Thursday that it has received Reserve Bank of India (RBI) approval to operate as a payment aggregator for physical (offline) payments as well as cross-border transactions, including both inward and outward flows.
The company stated that the RBI approval enables it to offer end-to-end payment aggregation services to merchants across multiple transaction formats.
The RBI authorisation, granted on December 17, 2025, comes in addition to the online Payment Aggregator licence, which PPSL already received from the RBI on November 26, 2025, under the Payment and Settlement Systems Act, 2007. After the latest RBI nod, PPSL now holds regulatory approval across online, offline, and cross-border payment aggregation use cases.
PPSL had first applied for a payment aggregator licence in November 2020 under the RBI’s Guidelines on Regulation of Payment Aggregators and Payment Gateways. However, the RBI had rejected its application in November 2022, directing the company to reapply in compliance with Press Note 3 of the foreign direct investment (FDI) rules.
To address this, PPSL then submitted a fresh application on December 14, 2022, after seeking approval from the Government of India for past downstream investment from its parent company, One97 Communications Limited, in line with Press Note 3 requirements.
The latest RBI approval also allows PPSL to support merchants with in-store digital payments as well as international transaction capabilities. The development is expected to enhance Paytm’s merchant offerings while reinforcing regulatory certainty for its payments infrastructure operations.