Paytm Europe Receives Luxembourg Payment Institution License

One97 Communications (NSE:PAYTM, BOM:543396) said its Luxembourg-based step-down subsidiary Paytm Europe has received a payment institution license from Luxembourg's Commission de Surveillance du Secteur Financier (CSSF). The license, effective July 2, authorizes Paytm Europe to provide payment services, including execution of credit transfers and payment transactions, as well as the acquiring of payment transactions, according to a stock exchange filing on Friday.