RBI Grants in-principle approval to 32 entities for Payment Aggregator licence

RBI Grants in-principle approval to 32 entities for Payment Aggregator licence

Daily Current Affairs   /   RBI Grants in-principle approval to 32 entities for Payment Aggregator licence

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Category : Business and economics Published on: February 18 2023

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  • The Reserve Bank of India released a list of 54 entities, including Amazon (Pay) India, Google India Digital Services, NSDL Database Management, and Zomato Payments, which can continue to operate as Online Payment Aggregators (PAs).
  • RBI also granted a total of 19 new online PA authorisations to firms including Groww Pay Services, Juspay Technologies, Mswipe Technologies, Tata Payments, and Zoho Payment Tech.
  • Payment Aggregator are entities that facilitate e-commerce sites and merchants to accept various payment instruments from customers. They facilitate merchants to connect with acquirers.
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