Core Insights - One 97 Communications, the parent company of Paytm Payment Services, has received the Reserve Bank of India's (RBI) online payment aggregator licence, allowing it to operate as a payment aggregator [1][2] - The approval follows a previous application rejection in November 2022 due to foreign direct investment compliance issues, which were resolved by obtaining necessary clearances from the Union Finance Ministry in August 2024 [2] - Prior to receiving the in-principle approval, Paytm was restricted from adding new merchants and could only service its existing merchant base [3] Company Developments - Paytm has recently launched an updated version of its payments application, which includes a new interface and artificial intelligence tools for expense tracking, balance management, and personalized insights [3] - Other companies such as Razorpay, Pine Labs, Cashfree, and PayU have also been authorized to operate as payment aggregators, indicating a competitive landscape in the payment services sector [4] - PhonePe, supported by Walmart, has received final RBI authorization to operate as an online payment aggregator, while Junio Payments has been granted in-principle approval to issue prepaid payment instruments [5]