RBI gives payment aggregator licence to more companies; total 20 since January
Vijay C Roy
CHANDIGARH, APRIL 30
Expanding the list of online payment aggregators (PAs), the Reserve Bank of India (RBI) on Tuesday gave its approval to Groww Pay, the Unified Payments Interface (UPI) payments platform of broking firm Groww, and payments firm-Worldline ePayments India Private Ltd. With two new approvals, the tally of companies receiving the payment aggregator licence touched 20 in the first four months of the calendar year 2024.
More options for customers
Payment aggregator allows companies to provide payment services for merchants (online businesses or e-commerce firms) by accepting payment instruments from customers
An online PA allows companies to provide payment services for merchants (online businesses or e-commerce firms) by accepting payment instruments from customers.
Groww Pay, the UPI payments platform of broking firm Groww was granted approval by RBI on April 29. It will allow the financial services firm to facilitate ecommerce transactions through its platform through its UPI app, Groww Pay. While Worldline ePayments India received the communication from the Reserve Bank of India (RBI) today.
Worldline ePayments India received the communication from the RBI on April 30.
In April alone, besides Groww Pay and Worldline, the RBI has given PA licence to Boku Network Services, Computer Age Management Services Ltd and Unlimint IN Private Ltd. This year Amazon Pay, Digiotech Solutions, Google India, CCAvenue, Decfin Tech, MSwipe, Tata Pay, Zoho and Zomato have received the payment aggregator licences.
