Paytm is applying for Third Party Application Provider / TPAP license from NPCI which it is likely to get in time.
However, Paytm does not have Prepaid Payment Instrument / PPI and Payment Aggregator / PA licenses, which its competitors PhonePe and Google Pay have. These require approval from RBI. It may not be easy to get these licenses from RBI, considering its application for PA was already rejected.
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