India’s Paytm wins regulator extension for payment aggregator licence application

Indian financial technology company Paytm Payments Services Ltd has received an extension from the country’s banking regulator to apply for a payment aggregator licence and aims to reapply in about 15 days, the company said.

Paytm Payments Services, in the meantime, can continue with the online payment aggregation business for its existing partners, without taking on any new merchants, the company said in a notification to stock exchanges on Sunday.

Paytm Payments Services Ltd is a wholly owned subsidiary of One 97 Communications.