New Delhi: Fintech firm One97 Communications on Thursday said its subsidiary, Paytm Payments Services Limited (PPSL), has received authorisation from the Reserve Bank of India (RBI) to operate as a Payment Aggregator for physical (offline) payments and cross-border transactions.
The approval adds to the online payment aggregation authorisation granted to PPSL by the central bank last month.
In a regulatory filing, Paytm said the RBI, on December 17, 2025, authorised PPSL to undertake offline payments and cross-border transactions, both inward and outward, under the Payment and Settlement Systems Act, 2007.
With this clearance, PPSL now holds Payment Aggregator licences across online, offline and cross-border segments, enabling it to offer end-to-end payment aggregation services to merchants.
PPSL had initially applied for a payment aggregator licence in November 2020 under the RBI’s guidelines on Regulation of Payment Aggregators and Payment Gateways.
However, in November 2022, the RBI rejected the application and asked the company to resubmit it to comply with Press Note 3 under foreign direct investment (FDI) rules.
Subsequently, the company filed the required application with the Government of India on December 14, 2022, seeking approval for past downstream investment from One97 Communications Ltd to ensure compliance with the FDI guidelines.