Paytm wins regulator extension for payment aggregator licence application

One97 Communications (OCL) said its subsidiary Paytm Payments Services Ltd (PPSL) has received an extension from the Reserve Bank of India (RBI) to resubmit its application for a payment aggregator (PA) licence.

The banking regulator had in November last year asked Paytm to reapply for the licence within 120 days and stopped it from signing up new online merchants for the platform.