Paytm up 5% after payments authority grants third-party app license

The license will allow customers to continue using the Paytm app for payments through UPI, after Paytm Payments Bank ceases operations by March 15.

A worker adjusts a hoarding of Paytm, the digital payments firm.

Credit: Reuters Photo

Bengaluru: Shares of Paytm rose 5 per cent in pre-open trade on Friday, a day after the country's payments authority granted it a third-party application provider license, which will enable it to facilitate payments after its banking unit ceases operations.

The license will allow customers to continue using the Paytm app for payments through unified payment interface (UPI), after Paytm Payments Bank ceases operations by March 15, following regulatory action due to non-compliance with certain norms.

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