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India's Paytm gets preliminary RBI nod for wallet licence; shares hit record high
BENGALURU: India’s Paytm on Friday received preliminary central bank approval for its payments services unit to issue prepaid payment products, including digital wallets, sending its shares to a record high. The approval comes after the winding up of Paytm Payments Bank and would allow Paytm to run its wallet business independently of the payments bank that housed it for years. Paytm Payments Services can offer prepaid payment instruments to customers after receiving the Reserve Bank of India’s final authorisation, the company said. The licence will open up revenue opportunities including a pr...
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