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.