New Delhi: Fintech firm PayU has received in-principle approval from the Reserve Bank of India to operate as a payment aggregator, the company said on Wednesday.
In January 2023, the RBI had returned the applications of Prosus group firm PayU and asked them to resubmit within 120 days.
With the in-principle approval, PayU can now onboard new merchants and provide them digital payment services.
“This license is significant in our mission to establish a globally renowned digital payments infrastructure rooted in India. In line with the Government's Digita India initiative and RBI's visionary regulations, we are committed to driving digitalization and financial inclusion, especially for small merchants. Are dedicated to promoting." Payu Chief Executive Officer (CEO) Anirban Mukherjee said.
In January 2023, the RBI had returned the applications of Prosus group firm PayU and asked them to resubmit within 120 days.
With the in-principle approval, PayU can now onboard new merchants and provide them digital payment services.
“This license is significant in our mission to establish a globally renowned digital payments infrastructure rooted in India. In line with the Government's Digita India initiative and RBI's visionary regulations, we are committed to driving digitalization and financial inclusion, especially for small merchants. Are dedicated to promoting." Payu Chief Executive Officer (CEO) Anirban Mukherjee said.
