The article discusses how Paytm, a leading fintech company, has received approval from the finance ministry to invest in its payment services business. This comes after the central bank’s directive to shut down its payments bank earlier this year. Paytm plans to reapply for a license for its payments services business and continue offering online payment aggregation services to its partners.
Three highlights of the article:
1. Paytm has secured approval from the finance ministry to invest in its payment services business.
2. The company plans to submit a new application to regain the license for its payments services business.
3. Paytm Payment Services contributed a quarter of the company’s consolidated revenue in the last fiscal year.
In summary, Paytm has received the green light from the finance ministry to invest in its payment services business and is aiming to reestablish its position in the market following the central bank’s previous directive.
Editorial content by Blake Sterling
