PayU gets RBI's in-principle nod to operate as payment aggregator
Fintech firm PayU has received an in-principle approval from the Reserve Bank to operate as a payment aggregator, the company said on Wednesday.
)
09:51 PM IST
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.
Also Read: Zydus unit gets 10 observations from USFDA after inspection
"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.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
)
)
)
)
)
)
)
)
)
PayU invests in BRISKPE to simplify global payments for Indian MSMEs
PayU partners PayPal to improve cross-border payments for Indian merchants
PayU appoints 5 new members to its Board of Directors
