PayU Gets RBI’s In-principle Nod to Operate as Payment Aggregator – News18

Fintech firm PayU has received an in-principle approval from the Reserve Bank to operate as a payment aggregator, the company said on Wednesday. In January 2023, RBI had returned applications of Prosus Group firm PayU and asked it to resubmit them within 120 days.

With in-principle approval in place, PayU can now onboard new merchants to provide them digital payment services. “This license is pivotal in our mission to establish a globally renowned digital payment infrastructure rooted in India. Aligned with the government’s Digital India initiative and the RBI’s forward-thinking regulations, we are dedicated to driving digitisation and financial inclusion, particularly for small merchants,” said Anirban Mukherjee, Chief Executive Officer (CEO), PayU.

(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)