Paytm in Europe: One 97 subsidiary gets Luxembourg regulator’s nod for payment transaction

One 97 Communications, the parent company of Paytm, announced that its step-down subsidiary in Luxembourg has been granted a payment institution licence by the country’s financial regulator, marking a formal step in the company’s European expansion plans.

Why did Paytm receive a payment institution licence in Luxembourg?

In a filing with the exchanges, the company said Paytm Europe Payments S.A. was informed by the Commission de Surveillance du Secteur Financier (CSSF) on July 2 that it had been granted the payment institution licence. The entity has also been added to the regulator’s official list of payment institutions, with the registration taking effect the same day.