--- title: "Application for Authorization of Payment Aggregator Services to be Resubmitted by Paytm" description: "During this time, Paytm will not onboard any new online retailers." author: "Muskan Singh" published: 2022-11-27 canonical: https://www.mindstick.com/news/2443/application-for-authorization-of-payment-aggregator-services-to-be-resubmitted-by-paytm category: "finance" tags: ["technology", "technology news", "finance course in india"] reading_time: 2 minutes --- # Application for Authorization of Payment Aggregator Services to be Resubmitted by Paytm - The [Reserve Bank of India](https://answers.mindstick.com/qa/34758/the-reserve-bank-of-india-rbi-has-recently-launched-the-ombudsman-scheme-for-nbfcs-the-nbfc-ombudsman-will-have-an-office-in-which-city) sent a letter, according to Paytm. - One97 [Communications](https://www.mindstick.com/articles/44489/leased-lines-and-other-tools-for-business-communications) owns Paytm. - The business will not bring on any new online merchants during this period. A wholly owned subsidiary of Paytm, a company that offers [financial services](https://www.mindstick.com/articles/44435/video-marketing-reshaping-the-banking-financial-services-industry-at-its-best) and electronic payments, updated the exchanges on [**Paytm**](https://www.mindstick.com/news/2376/on-news-of-the-sale-of-a-softbank-stake-shares-of-paytm-parent-one97-decline) Payments Services. The fintech business reported receiving a letter from the Reserve Bank of India (RBI) in response to a request from a subsidiary for [authorization](https://www.mindstick.com/blog/177/authentication-and-authorization-in-asp-dot-net) to offer payment aggregator services to online retailers. **The company has 120 calendar days from today to submit a new application for the payment aggregator services.** The company will first ask [Paytm](https://www.mindstick.com/news/2376/on-news-of-the-sale-of-a-softbank-stake-shares-of-paytm-parent-one97-decline) for the necessary approval for the prior downward investment into its subsidiary in order to comply with laws on foreign [direct investment](https://yourviews.mindstick.com/view/85456/foreign-direct-investment-fdi-and-its-impacts-on-host-countries). During this time, the company will not add any new online retailers. 'We can keep adding more offline retailers and offering them payment options like All-in-One QR, Soundbox, Card Machines, etc. Similar to this, PPSL can continue to work with current online retailers, whose services will not be impacted.' said the company on Saturday. In essence, this indicates that Paytm's solid [business growth](https://yourviews.mindstick.com/story/3686/key-factors-for-successful-business-growth) is likely to continue, with no change to its [profitability](https://www.mindstick.com/blog/12142/tips-for-streamlining-your-business-and-increasing-profitability) aim because the company can keep working with its current online retailers. Additionally, this [development](https://www.mindstick.com/articles/65309/importance-of-ux-design-in-the-development-of-mobile-apps) won't have an influence on Paytm's expanding network of device deployments or its expanding base of offline payments because it can keep bringing on new merchants. '**The business stated in its filing that the RBI announcement has no appreciable impact on its operations or revenues** because it only pertains to the onboarding of new online merchants. We anticipate receiving the necessary clearances quickly, which will allow us to resubmit the application 'the company mentioned in the filing. --- Original Source: https://www.mindstick.com/news/2443/application-for-authorization-of-payment-aggregator-services-to-be-resubmitted-by-paytm Copyright © MindStick Software Pvt. Ltd. This Markdown version is provided for developers, AI systems, and offline reading.