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Ahead of IPO, PayU receives final Payment Aggregator license

EntrackrEntrackr · 8m ago
Ahead of IPO, PayU receives final Payment Aggregator license
Medial

Ahead of IPO, PayU receives final Payment Aggregator license PayU has received final authorization from the Reserve Bank of India (RBI) to operate as an online Payment Aggregator. This allows the fintech firm to onboard new merchants onto its platform. In April 2024, PayU received in-principle approval from the RBI to operate as a payment aggregator. “As we move forward, we remain dedicated to building a resilient, compliant, inclusive, and innovation-driven institution—one that serves merchants of all sizes and contributes meaningfully to the Digital India vision of the RBI and the Government,” said a PayU spokesperson. The development comes at a time when PayU is planning for its IPO, eyeing a public listing during the second half of 2025. The company also appointed Pramod Rao as its Chief Risk Officer, who will oversee risk management, regulatory compliance, and strengthen the organization’s financial and operational risk framework. PayU has acquired a 43.5% stake in real-time payments technology firm Mindgate Solutions, enhancing its footprint in India’s real-time payments space and leveraging Mindgate’s expertise to drive digital payment innovation globally. Several other startups have secured authorization from the RBI as payment aggregators. MobiKwik’s subsidiary Zaakpay and PB Fintech’s subsidiary PB Pay received in-principle approval, and BharatPe’s Resilient Payments was granted final approval. Earlier this year, cross-border payments company Skydo received in-principle authorization from the RBI to operate as a Payment Aggregator-Cross Border (PA-CB) entity.

Paytm gets RBI approval for offline and cross border payment aggregation

EntrackrEntrackr · 23d ago
Paytm gets RBI approval for offline and cross border payment aggregation
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Paytm Payments Services Limited (PPSL), a wholly owned subsidiary of One 97 Communications Limited, has received authorisation from the Reserve Bank of India to operate as a payment aggregator for physical or offline payments and cross border transactions, according to a regulatory filing. The approval allows PPSL to undertake cross border payment aggregation for both inward and outward transactions. This is in addition to the online payment aggregator authorisation granted by the RBI last month. With this authorisation, PPSL now holds payment aggregator approvals across online, offline, and cross border segments. The company said the approval enables it to offer payment aggregation services across multiple use cases for merchants. Paytm had earlier applied for a payment aggregator licence, which was returned by the RBI in November 2022. The company reapplied in September 2024 and received in principle approval from the regulator in August 2025, following which the final authorisation has now been issued. Paytm becomes part of a limited set of regulated players that are authorised to support domestic and cross border payments across both online and offline merchant channels on a single compliant platform. Other companies in this group include Razorpay, Easebuzz, PayU, Pine Labs, and Airpay. The company reported revenue from operations of Rs 2,061 crore in Q2 FY26, up from Rs 1,659 crore in the year ago period. However, its net profit fell sharply to Rs 21 crore from Rs 930 crore in Q2 FY25, primarily due to the absence of a one time gain in the base quarter and an impairment loss recorded in the latest quarter.

Skydo receives final RBI authorisation for cross-border payments

EntrackrEntrackr · 1d ago
Skydo receives final RBI authorisation for cross-border payments
Medial

Skydo, a cross-border payments platform for exporters, has received final authorisation from the Reserve Bank of India (RBI) to operate as a Payment Aggregator–Cross Border (PA-CB). The Bengaluru-based platform had received in-principle authorization from the Reserve Bank of India (RBI) to operate as a Payment Aggregator-Cross Border (PA-CB) entity back in Jan. last year. It has also secured Payment Service Provider (PSP) approval from Amazon, enabling it to process payments for exporters participating in Amazon's Global Selling program. According to Skydo, it is among the first Cross-Border fintechs to secure this license, strengthening it aims to build transparent and seamless payment infrastructure for Indian MSMEs to grow globally. With the final PA-CB authorisation in place, Skydo will continue to deepen its product offerings and expand coverage across additional trade corridors. Skydo has introduced several first-to-market offerings for India’s growing MSME export sector, including seamless local payment acceptance in difficult corridors like Africa, and a suite of value-added services like Invoicing, Analytics and Payment Reminders. Co-founded in 2022 by Srivatsan Sridhar and Movin Jain, Skydo is a cross-border payments platform that simplifies global money movement for businesses. Its unified stack spans global collections, payouts, card acceptance, compliance automation, and developer-first APIs. The platform enables exporters to collect locally from international clients, with transparent flat-fee pricing, no markup on live mid-market FX rates, and fast settlements. Skydo provides instant access to compliance documents like FIRC through deep integration with partner banks, and offers a full suite of Accounts-Receivable tools like invoicing, payment reminders and ledgering, and integration with ERP / Accounting. The platform asserts that it serves more than 30,000 Indian MSMEs, freelancers, and startups across over 50 cities, supporting collections in more than 32 currencies.

airpay secures all three RBI payment-aggregator licences

EntrackrEntrackr · 1m ago
airpay secures all three RBI payment-aggregator licences
Medial

airpay secures all three RBI payment-aggregator licences Mumbai-based airpay Payment Services has received authorisation from the Reserve Bank of India (RBI) to operate across the full payment-aggregator framework, completing approvals for online (PA-O), physical/POS and QR (PA-P), and cross-border (PA-CB) services. With this, airpay now joins a small group of regulated players that can handle domestic and international payments across online and offline merchant touchpoints on a single compliant stack. The recent list includes Razorpay, Easebuzz, PayU and Pine Labs. The company said the approvals will allow it to offer collections, payouts and settlements for Indian enterprises, D2C brands and SMEs selling both within India and overseas. airpay expects the expanded licence set to drive a 30–40% increase in processing volumes over the next 6–12 months. It is also projecting over 20% of its revenue to come from cross-border flows in this period, alongside the onboarding of more than 50,000 merchants. Founded in 2012, airpay operates in UPI acquiring, QR, payment links, PoS and merchant lifecycle management. With all three licences in place, the company is now positioned to support online, offline and cross-border commerce from a single regulated infrastructure as Indian businesses expand beyond domestic markets. This is expected to reduce settlement risk and compliance overhead for exporters, SaaS firms, subscription businesses and D2C brands targeting markets in Europe, the Middle East, and Southeast Asia. Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investors here.

Mswipe gets RBI payment aggregator licence for online and offline transactions

EntrackrEntrackr · 19d ago
Mswipe gets RBI payment aggregator licence for online and offline transactions
Medial

Mswipe gets RBI payment aggregator licence for online and offline transactions Mumbai-based digital payments firm Mswipe Technologies has received the Reserve Bank of India’s final Payment Aggregator (PA) licence, allowing it to operate across both online and physical payment channels. With this approval, Mswipe can onboard merchants and aggregate payments across in-store, online, and hybrid setups under a single regulatory framework. The licence also enables the company to facilitate inward and outward cross-border payment flows, expanding its scope beyond domestic acceptance. The firm currently offers MPOS and smart PoS terminals, QR soundboxes, payment gateways, and embedded digital payment services to merchants across categories. In recent months, RBI approved online, offline and cross border payment aggregation for around half a dozen companies. These include Paytm, Razorpay, Easebuzz, PayU, Pine Labs and Airpay. With these clearances, the firms are authorised to offer a full stack of payment aggregator services across ecommerce transactions, in store merchant payments and cross border payment flows. According to the company, the licence will allow it to scale its omni-channel payments offering and roll out additional services for MSMEs and enterprises operating across physical and digital channels. In FY24, Mswipe’s payments business reported adjusted profitability, with revenue crossing Rs 275 crore. Its total payment volume more than doubled year-on-year, driven by increased adoption of its combined offline and online payment solutions. Founded in 2011, Mswipe serves merchants across more than 600 cities in India. The company is backed by investors including Alpha Wave Global, Matrix Partners, B Capital, DSG Consumer Partners, Epiq Capital, UC-RNT, and Ola.

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