Core Insights - One97 Communications' subsidiary, Paytm Payments Services Limited (PPSL), has received authorization from the Reserve Bank of India (RBI) to operate as a payment aggregator for offline and cross-border transactions, enhancing its capabilities in the payment sector [1] - This approval allows PPSL to hold payment aggregator licenses across all major segments, including online, offline, and cross-border payments, supporting One97's long-term payment acceptance strategy [1] Group 1 - PPSL initially applied for the payment aggregator license in November 2020, but the RBI declined the application in November 2022, requesting a resubmission to ensure compliance with foreign direct investment (FDI) regulations [2] - To meet the RBI's requirements, PPSL submitted a new application on December 14, 2022, seeking approval for a previous downward investment from One97 Communications in accordance with FDI guidelines [3] - One97 Communications completed an investment of Rs22.50 billion ($250 million) into PPSL through a rights issue of equity shares, which was part of the compliance process with the RBI [3] Group 2 - Last month, One97 Communications announced the receipt of the RBI's online payment aggregator license, coinciding with the launch of an updated version of its payments application featuring a simplified interface and new AI tools [4] - The updated app includes AI features for expense tracking, balance management, and personalized insights, aimed at improving user experience in digital transactions [4] - In June, Paytm introduced personalized UPI IDs, allowing users to conduct UPI transactions without disclosing their mobile numbers, thereby enhancing user privacy [5]