Paytm gets final RBI nod to operate as a payment aggregator — 4 reasons why this is big news

Paytm is in focus as the Paytm Payments Services has received approval from the Reserve Bank of India (RBI) to operate as a Payment Aggregator. The company informed the exchanges that the RBI has granted it a Certificate of Authorization on November 26. Paytm Payments Services is a wholly-owned subsidiary of One 97 Communications.

In an exchange filing, the parent company, One 97 Communication, stated that the “Reserve Bank of India has granted Certificate of Authorization (“COA”) to Paytm Payments Services Limited (PPSL), a wholly-owned subsidiary of One 97 Communications, to operate as a Payment Aggregator under the Payment and Settlement Systems Act, 2007.”