One 97 Communications Limited (Paytm) has clarified its involvement with a news item concerning its expansion into Indonesia. The company confirmed a partnership with Flip (PT Fliptech Lentera Inspirasi Pertiwi) and its subsidiary PT Duta Teknologi Kreatif (DTK) in Indonesia. Under this arrangement, Paytm and its subsidiaries will provide device hardware and technology to DTK. Additionally, Paytm has made a minority investment in DTK. Flip, an Indonesian financial services technology company, will spearhead the local market execution. DTK possesses a PJP1 license, enabling merchant acquiring services in Indonesia. Paytm stated that this partnership is not considered a material event requiring prior disclosure to the stock exchanges under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company reiterated its commitment to making appropriate disclosures as and when required, consistent with applicable laws. This disclosure will be available on Paytm's investor relations website.
