Indian monetary know-how firm Paytm Payments Services Ltd has acquired an extension from the nation’s banking regulator to use for a fee aggregator licence and goals to reapply in about 15 days, the corporate stated on Sunday.

Paytm Payments Services, within the meantime, can proceed with the net fee aggregation enterprise for its present companions, with out taking over any new retailers, the corporate stated in a notification to inventory exchanges on Sunday.

Paytm Payments Services Ltd is an entirely owned subsidiary of One 97 Communications.

Payment aggregators, platforms that convey collectively varied on-line fee choices, have to be licensed by India’s central financial institution and banking regulator, Reserve Bank of India.

In November, India’s banking regulator had declined a fee aggregator licence for the One 97 Communications unit that owns the favored Paytm model.

The firm stated that the most recent transfer has no materials affect on its enterprise and income and for the offline a part of the enterprise, the corporate can proceed to tackle new retailers and provide them fee companies.