Paytm to transfer its payments business to a new subsidiary

Paytm to transfer its payments business to a new subsidiary

Signage for digital-payments provider Paytm, operated by One97 Communications Ltd., is displayed at a shop selling printer cartridges in Mumbai, India, on Friday, Jan. 27, 2017. Photographer: Dhiraj Singh/Bloomberg

In a fresh notice to shareholders on Tuesday evening, One97 Communications Ltd, the parent entity which owns brand Paytm, said that it will be shifting its payment aggregator business to a new subsidiary, Paytm Payments Services Ltd.

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