RBI clears Paytm arm PPSL as payment aggregator for offline transactions

Fintech firm One97 Communications on Thursday said its subsidiary Paytm Payments Services Limited (PPSL), has received authorisation from the Reserve Bank of India to operate as a Payment Aggregator for physical (offline) payments and cross-border transactions.

The approval is in addition to the authorisation for Online Payment Aggregation already granted by the central bank to PPSL last month.

"Reserve Bank of India (RBI) on December 17, 2025 has authorised Paytm Payments Services Limited (PPSL), a wholly-owned subsidiary of One 97 Communications Limited, to operate as a Payment Aggregator for Physical (offline) payments and Cross-Border transactions (both inward and outward), in addition to the online Payment Aggregator authorisation already granted by RBI on November 26, 2025, under the Payment and Settlement Systems Act, 2007, Paytm said in a regulatory filing.

With the new license, PPSL now holds Payment Aggregator authorisations across online, offline, and cross-border segments use cases, enabling end-to-end payment aggregation services for merchants.

In November 2020, PPSL applied for a license with the RBI to operate as a payment aggregator under the guidelines on Regulation of Payment Aggregators and Payment Gateways.

However, in November 2022, the RBI rejected PPSL's application and asked the company to resubmit it, so as to comply with Press Note 3 under FDI rules.

Subsequently, the company filed the required application on December 14, 2022, with the Government of India for the past downward investment from OCL (One97 Communications Ltd) into the company in order to comply with Press Note 3 prescribed under FDI guidelines.