Paytm, one of India's leading financial services companies, has reportedly received regulatory clearance to reinitiate the process of adding new UPI users-a move that would help it resume most of its activities eight months after being barred.
United Payments Interface, a real-time instant payment system developed by the Indian government, has clocked over 15 billion transactions in a month and is a dominant player in India's online payment landscape.

Instead, Walmart-owned PhonePe and Google Pay account for about 87% of the transactions through the national payment platform UPI, while Paytm's market share has declined from 13% to 8% since the Indian central bank imposed restrictions on the company's operations.

In March, the Reserve Bank of India directed Paytm to halt several businesses at its banking subsidiary, which it used for UPI payments due to repeated violations of rules.

On Tuesday, India's Unified Payments Interface watchdog, NPCI, allowed the Paytm subsidiary to restart operations after it had submitted its application.
Paytm's revenue in the quarter ended September were at $197.4 million, the company reports this week, a 34% fall from $299.5 million in the same period a year ago.