Investment and Financial Performance - One 97 Communications has completed a Rs22.50bn ($250m) investment into its subsidiary Paytm Payments Services Limited (PPSL) through a rights issue [1] - For Q2FY26, Paytm reported a net profit of Rs2.11bn ($25.3m) before a one-time charge, with a reported profit after tax of Rs210m ($2.5m) after impairing a Rs1.90bn ($22.7m) loan [3] - Operating revenue for the quarter increased by 24% year-on-year to Rs20.61bn ($247m) [4] Product Development and Features - Paytm launched a new in-app privacy feature called 'Hide Payments', allowing users to move selected UPI transactions out of the main transaction history [2] - The 'Hide Payments' feature is designed to enhance user discretion, particularly for those sharing devices [2] - Paytm claims to be the only UPI app in the market offering this privacy capability [3] Regulatory Developments - One 97 Communications received the Reserve Bank of India's (RBI) online payment aggregator license, allowing Paytm to operate as a payment aggregator [5]

Core Insights - Pine Labs has obtained all necessary regulatory licenses from the Reserve Bank of India (RBI) to operate as a payment aggregator across offline, online, and cross-border payments, making it the first firm to secure clearances in all three categories [1][5] Company Overview - Founded in 1998, Pine Labs initially focused on offline payment processing for large merchants and expanded into digital payments with the launch of Pine Labs Online in 2020-2021 [2] - The acquisition of Setu in the 2023 financial year has strengthened its fintech offerings, allowing for broader payment services, including cross-border transactions [2] Financial Performance - Pine Labs plans to raise up to $439 million through an initial public offering (IPO) in Mumbai, India [3] - For the fiscal year ending March 2025, Pine Labs reported a loss of ₹1.45 billion on revenue of ₹22.74 billion [3] Strategic Partnerships - In March, Pine Labs partnered with Visa to launch Visa Instalment Solutions (VIS) on its multi-issuer payment platform in Southeast Asia, enabling merchants to offer installment payment options for both domestic and international transactions [4]