Paytm’s subsidiary, Paytm Payments Services Ltd (PPSL), has secured approval from the Ministry of Finance for investment from the parent company , a crucial step towards obtaining a payment aggregator (PA) license. In a stock exchange filing, One97 Communications Ltd (OCL), the parent company of Paytm, announced that PPSL received the approval on August 27, 2024. This move allows PPSL to proceed with its application for a PA license, which is currently underway.
Finance Ministry’s approval to PPSL facilitates move forward for committing to the necessary steps to secure the PA license.

Despite the ongoing regulatory processes, PPSL will continue to provide uninterrupted online payment aggregation services to its existing partners. One97 Communications emphasized its commitment to a compliance-first approach and upholding the highest regulatory standards.

This approval opens significant opportunities for enterprise scale to PPSL as it prepares to resubmit it’s PA license application.
Shares of one97 communications LTD. closed at 538.05 rs , down by 1.38% on BSE