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| 19dGroww Bags RBI Nod To Operate As a Payment Aggregator
The Reserve Bank of India (RBI) has granted approval for Groww Pay Services, the bill payments platform of fintech unicorn Groww, to operate as a payment aggregator (PA). With this approval, Groww can acquire merchants and provide digital payment acceptance solutions. The PA licence aligns with Groww's goal of becoming a comprehensive financial institution. The RBI has been issuing PA licences to various companies this year, including Innoviti, Concerto Software and Systems, Amazon Pay, JusPay, Stripe, Tata Payments, and Mswipe. Other companies like Cred, PayU, and Khatabook have received in-principle authorisation to operate as payment aggregators.
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