This approval will now allow PayU to onboard new merchants on its platform.
“This license is important in our mission to establish a globally renowned digital payments infrastructure rooted in India,” PayU CEO Anirban Mukherjee said in a statement.
"In line with the Government's Digital India initiative and RBI's visionary regulations, we are dedicated to promoting financial inclusion, especially for small merchants," he said.
Further, the company said the in-principle approval from RBI underlines PayU's mission of building world-leading digital payments infrastructure originating from India for India and the world, accelerating its next growth phase in the country. .
Earlier this month, PayU partnered with US-based fintech company PayPal to enhance the cross-border payments experience for Indian merchants.
PayU provides payment gateway solutions to online businesses through its technology and has empowered over five lakh businesses including India's leading enterprises, e-commerce giants and SMBs. It allows businesses to collect digital payments from over 150 online payment methods like credit cards, debit cards, net banking, EMI, BNPL, QR, UPI, wallets, etc.
“This license is important in our mission to establish a globally renowned digital payments infrastructure rooted in India,” PayU CEO Anirban Mukherjee said in a statement.
"In line with the Government's Digital India initiative and RBI's visionary regulations, we are dedicated to promoting financial inclusion, especially for small merchants," he said.
Further, the company said the in-principle approval from RBI underlines PayU's mission of building world-leading digital payments infrastructure originating from India for India and the world, accelerating its next growth phase in the country. .
Earlier this month, PayU partnered with US-based fintech company PayPal to enhance the cross-border payments experience for Indian merchants.
PayU provides payment gateway solutions to online businesses through its technology and has empowered over five lakh businesses including India's leading enterprises, e-commerce giants and SMBs. It allows businesses to collect digital payments from over 150 online payment methods like credit cards, debit cards, net banking, EMI, BNPL, QR, UPI, wallets, etc.
