Fintech company One97 Communications, which operates the PayTM, on Friday said its step-down subsidiary, PayTM Europe Payments SA, has secured a payment institution licence from Luxembourg's financial regulator, paving the way for the company to offer a wider range of payment services in the European market, according to media reports.
The licence, granted by the Commission de Surveillance du Secteur Financier (CSSF), became effective on July 2, 2026, and authorises the company to undertake regulated payment activities, including the execution of payment transactions, credit transfers and payment acquiring services, according to a regulatory filing.
PayTM Europe Payments was incorporated in Luxembourg in January 2026 as a wholly owned subsidiary of PayTM Cloud Technologies Limited (PCTL), which is itself a wholly owned Indian subsidiary of One97 Communications.
The approval comes nearly two months after PayTM announced that PCTL would invest an additional €9 million in the European entity to strengthen its capital base and support its funding requirements as it expands operations in the region.
Following the capital infusion, PCTL continues to hold 100 per cent of PayTM Europe's paid-up share capital of €1 million.
The regulatory approval marks a key milestone in PayTM's efforts to establish its payments business in Europe through its Luxembourg-based subsidiary. |
