Indian multinational financial technology firm Paytm payment has derived an appendage from India’s banking regulator to register a payment aggregator license and targets to reapply in about 15 days, the financial company said on Sunday.
Meanwhile, the company can keep up with the online payment aggregation process for its currently existing partners, this won’t require acquiring any new merchants, India’s notable money transferring company mentioned in a daily notification to stock exchanges on Sunday.
People who aren’t familiar with One 97 communication which owns Paytm Payments Services been declined a payment aggregator license for the company in November 2022. In India, a company that brings several online payment options, payment aggregators should be licensed by India’s central bank and banking regulator, the Reserve Bank of India.
Albeit, the company declined the aggregator license, it hasn’t yet impacted the company anyway, the company continues to make new merchants and provide pt services.
In the previous month, Paytm said EBITDA (earnings before interest, taxes, depreciation, and amortization), an interferometric barometer of operational profit before ESOP margin slightly jumps to Rs. 31 crores during the third quarter ended December 31, 2022.
Paytm has dedicated itself to calculating an incentive of Rs.130 crores from UPI transactions in three quarters of 2022, but CEO Vijay Shekhar Sharma said that the incentive may delicately make the fourth quarter a free cash flow positive quarter.