Paytm Payments Services, within the meantime, can proceed with the net cost aggregation business for its present companions, with out taking up any new retailers, the corporate stated in a notification to inventory exchanges on Sunday.
Paytm Payments Services Ltd is a completely owned subsidiary of One 97 Communications.
Payment aggregators, platforms that deliver collectively varied on-line cost choices, have to be licensed by India’s central financial institution and banking regulator, Reserve Bank of India.
In November, India’s banking regulator had declined a cost aggregator licence for the One 97 Communications unit that owns the favored Paytm model.
The firm stated that the newest transfer has no materials influence on its business and income and for the offline a part of the business, the corporate can proceed to tackle new retailers and provide them cost providers.
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Source: economictimes.indiatimes.com