Page 5 - Payment Aggregators News Today

The Reserve Bank of India (RBI) has allowed Paytm Payment Services Ltd (PPSL) an extension to resubmit its application for a payment aggregator (PA) licence, said One97 Communications, the parent firm of PPSL, in a regulatory filing on 26 March 2023. -- aaa

So far, despite the initial pushback from the industry when a ban on pre-paid instruments was announced, it has been a light-touch regulatory approach. That’s the stance that the RBI should stay with if Indian consumers are to continue to benefit from the efficiencies which digital payments offer

The Reserve Bank of India (RBI) on Wednesday gave an in-principle nod to the payment arms of US technology majors Amazon and Google and 30 others including Reliance Jio Infocomms Reliance Payment Solutions to operate as online payment aggregators. -- aaa

The RBI said for the purpose of disseminating information and ensuring greater transparency, the list of entities that have submitted applications to RBI seeking authorisation to act as online PAs with the current status of their application as of February 15, 2023, is published.

The Reserve Bank of India (RBI) said it has granted in-principle approval to 32 existing payment aggregators,...

The Reserve Bank of India (RBI) on Wednesday said it has granted in-principle approval to 32 existing payment aggregators, allowing them to continue their operations.

The RBI answers FAQs clarifying many provisions in the digital lending guidelines issued in September 2022 applicable to lending apps

Applications of 18 existing payment aggregators, including Bhartipay and PhonePe, are under process, the RBI said.

Paymate India, Razorpay Software, and Zomato Payments are among the PAs that have been granted in-principle authorisation

RBI said that the current application status of payment aggregators who are in the ongoing process will be updated on a fortnightly basis for more transparency.