Fintech player PayU has secured in-principle approval from the Reserve Bank of India (RBI) to operate as a payment aggregator, allowing the company to expand its digital payment services to new merchants across the country.
Results for: Payment Aggregator
PayU Payments, a leading fintech company, has obtained an in-principle nod from the Reserve Bank of India (RBI) to operate as a payment aggregator. This approval marks the culmination of 15 months of discussions between PayU and the RBI and comes amidst the central bank’s increased scrutiny of the payments sector. PayU will now be able to onboard new merchants onto its platform, extending its reach in the Indian market.