Paytm Payments Services Limited: Authorisation to Operate as Payment Aggregator

Paytm Payments Services Limited (PPSL), a fully owned subsidiary of One 97 Communications Limited, has secured approval from the Reserve Bank of India to function as a payment aggregator for physical or offline payments as well as cross-border transactions, as stated in a regulatory filing. This authorisation permits PPSL to handle cross-border payment aggregation for both inward and outward transactions. This follows the online payment aggregator approval granted by the RBI last month.

With this new authorisation, PPSL now holds payment aggregator approvals for online, offline, and cross-border sectors. The company indicated that this approval allows it to provide payment aggregation services across various scenarios for merchants.

Previous Application and Approval Process

Previously, Paytm applied for a payment aggregator licence, which the RBI returned in November 2022. The company reapplied in September 2024 and received preliminary approval from the regulator in August 2025, leading to the current final authorisation.

Market Position and Competitors

Paytm becomes a part of a select group of regulated entities authorised to facilitate domestic and cross-border payments through both online and offline merchant channels on a single compliant platform. Other companies in this category include Razorpay, Easebuzz, PayU, Pine Labs, and Airpay.

Financial Performance

The company reported operational revenue of Rs 2,061 crore in Q2 FY26, an increase from Rs 1,659 crore a year ago. However, the net profit saw a significant decline, falling to Rs 21 crore from Rs 930 crore in Q2 FY25, mainly due to the lack of a one-time gain in the previous quarter and an impairment loss reported in the latest quarter.