Paytm To Reapply For Payment Aggregator Licence: Vijay Shekhar Sharma

Paytm To Reapply For Payment Aggregator Licence: Vijay Shekhar Sharma

SUMMARY

Paytm will reapply for a payment aggregator licence in due course, founder and managing director Vijay Shekhar Sharma said

Sharma also reiterated Paytm's commitment to focus on its core payment business and cross-selling financial services as it seeks to achieve profitability

Paytm’s payment business revenue stood at INR 900 Cr during the quarter under review, which took a hit due to disruption of Paytm Payments Bank products, among other things, the company had said in its Q1 FY25 earnings release

Shares of fintech giant Paytm climbed over 2% during early trading hours today after founder and managing director Vijay Shekhar Sharma reiterated the company’s intention to resubmit application for a payment aggregator (PA) licence with the Reserve Bank of India.

“We will apply for a payment aggregator licence with RBI in due course,” Sharma said at Paytm’s 24th annual general meeting.

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