Digital financial services provider PayU has announced its receipt of in-principle authorization from the Reserve Bank of India (RBI) to operate as a Payments Aggregator (PA) under the Payment Settlements Act, 2007. This approval marks a significant milestone for PayU, enabling it to expand its merchant onboarding capabilities and contribute further to the digitization of the Indian economy. Anirban Mukherjee, CEO of PayU, expressed the company’s commitment to compliance and corporate governance, highlighting the importance of this license in PayU’s mission to establish a globally recognized digital payment infrastructure rooted in India. Aligned with the government’s Digital India initiative and the RBI’s forward-thinking regulations, PayU aims to drive digitization and financial inclusion, particularly for small merchants. The company has already witnessed significant interest from businesses across sectors and sizes to join its platform, underscoring the need for seamless and secure payment solutions in the rapidly evolving digital landscape.
PayU Receives RBI Approval to Operate as Payments Aggregator in India
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