No change in strategy: Paytm denies reports of opting out of licences

Paytm, a major player in digital payments, has denied media reports claiming that the firm has decided to avoid pursuing businesses that require regulatory licences.

Reports claimed that Paytm’s leadership has opted to build its business primarily through a distribution model rather than seeking licences directly under regulatory purview. Furthermore, the firm chose not to reapply for licences such as non-banking financial company (NBFC), insurance, or asset management businesses. Additionally, experiments in cross-border payments, regulated under the Payment Aggregator Cross-Border (PA-CB) licence, would be stopped.