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Paytm gets RBI approval for offline and cross border payment aggregation

EntrackrEntrackr · 1m ago
Paytm gets RBI approval for offline and cross border payment aggregation
Medial

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.

PolicyBazaar’s PB Pay receives RBI approval for Payment Aggregation

EntrackrEntrackr · 9m ago
PolicyBazaar’s PB Pay receives RBI approval for Payment Aggregation
Medial

PolicyBazaar’s PB Pay receives RBI approval for Payment Aggregation PB Pay Private Limited, a wholly owned subsidiary of InsurTech firm PB Fintech, has received in-principle approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator under the Payment and Settlement Systems Act, 2007. The approval comes nearly a year after the company submitted its application. The authorisation is subject to compliance with the RBI’s guidelines on the regulation of payment aggregators and payment gateways. Policybazaar focuses on insurance, while Paisabazaar, also under PB Fintech, handles the credit side — personal loans, business loans, credit cards, and credit scores. This move will help the company’s business to support and streamline payment across both insurance and credit verticals and reduce reliance on third-party service providers. Last month, PB Fintech also got the board approval to infuse Rs 696 crore or $80 million to its subsidiary PB Healthcare Services Pvt Ltd to strengthen its new unit’s operations in India’s health care sector. The parent company of Policybazaar and Paisabazaar reported a 48.3% year-on-year revenue growth to Rs 1,292 crore in the third quarter of the last fiscal year (Q3 FY25) from Rs 871 crore in Q3 FY24. During the same period, its net profit nearly doubled to Rs 72 crore from Rs 37 crore in the corresponding quarter of the previous fiscal. PB Fintech is currently trading at Rs 1,625 with a total market capitalization of Rs 74,629 crore (approximately $8.6 billion).

Razorpay POS gets RBI approval for offline payment aggregator licence

EntrackrEntrackr · 16d ago
Razorpay POS gets RBI approval for offline payment aggregator licence
Medial

Razorpay POS gets RBI approval for offline payment aggregator licence Razorpay POS, the offline payments arm of Razorpay, has received the Payment Aggregator Physical (PA-P) licence from the Reserve Bank of India (RBI). With this approval, Razorpay now holds all three key RBI payment licences: online payment aggregator, offline (physical) payment aggregator, and cross-border payment aggregator, placing it among a small group of fintech companies authorised to operate end-to-end across India’s payments ecosystem. 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. The PA-P licence allows Razorpay POS to onboard merchants and process in-store digital payments at scale, covering large retailers, enterprises, and small and medium businesses. The company already operates across India’s offline commerce ecosystem through devices such as mPOS terminals, smart POS machines, soundboxes, and pin-on-mobile solutions. Razorpay entered the offline payments segment in 2022 through the acquisition of Ezetap, which was later rebranded as Razorpay POS. Since then, the company has expanded its physical payments footprint alongside its core online payments business. With the offline licence in place, Razorpay can now offer a fully compliant payment infrastructure across digital, in-store, and cross-border transactions.

Skydo receives final RBI authorisation for cross-border payments

EntrackrEntrackr · 29d 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.

MobiKwik’s Zaakpay ​​receives RBI nod to operate as online payment aggregator

EntrackrEntrackr · 9m ago
MobiKwik’s Zaakpay ​​receives RBI nod to operate as online payment aggregator
Medial

MobiKwik’s Zaakpay ​​receives RBI nod to operate as online payment aggregator. Fintech company MobiKwik announced today that its subsidiary, Zaakpay, has received a certificate of authorisation from the Reserve Bank of India (RBI) to operate as an online payment aggregator. This regulatory approval allows Zaakpay to expand its role in India’s rapidly growing digital payments ecosystem. As an RBI-authorised payment aggregator, Zaakpay will now be able to onboard merchants and facilitate online payment transactions in compliance with the central bank’s guidelines. In a regulatory filing, the company emphasized that this milestone enhances Zaakpay’s capacity to scale its operations and deepen its presence in the digital payments market. Recently, the Gurugram-based company forayed into the securities broking space with the launch of its wholly owned subsidiary, MobiKwik Securities Broking Private Limited (MSBPL). As of Q3 FY25, MobiKwik’s registered user base had grown to 172 million, along with a merchant network of 5 million. In the third quarter of the previous fiscal year, it reported revenue of Rs 269 crore and a loss of Rs 55.2 crore.

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