Paytm Europe — Payment Institution Licence

Paytm Europe Payments S.A. received a Payment Institution licence from Luxembourg's financial regulator, the CSSF.

Significance

The licence enables regulated payment services across the European Economic Area (EEA).

Services

• Payment transactions
• Credit transfers
• Standing orders
• Payment acquiring

UPSC Concepts

Payment Institution (PI):
A regulated entity authorised to provide specified payment services without necessarily being a traditional bank.

GS-III

• FinTech
• Digital payments
• Financial regulation
• Cross-border financial services