RBI asks Paytm to reapply for payment aggregator licence
Paytm further said that the firm can continue to onboard new offline merchants and offer them payment services including All-in-One QR, Soundbox, Card Machines, etc
The Reserve Bank of India(RBI) has asked Paytm Payments Services Limited to resubmit the application to operate as payment aggregator. The banking regulator put a pause on onboarding of online merchants by Paytm Payments Services. The company will not onboard new online merchants till the time approvals remain pending.