🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Related News

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

EntrackrEntrackr · 3m 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.

Mobikwik secures SEBI nod to launch stockbroking operations

EntrackrEntrackr · 1m ago
Mobikwik secures SEBI nod to launch stockbroking operations
Medial

Mobikwik secures SEBI nod to launch stockbroking operations Fintech firm Mobikwik has received approval from the Securities and Exchange Board of India (SEBI) to operate as a stockbroker and clearing member through its wholly owned subsidiary, Mobikwik Securities Broking Private Limited (MSBPL). The regulatory clearance, granted under SEBI’s Stock Broker Regulations, 1992, allows the company to buy, sell, and deal in securities on behalf of clients, as well as carry out clearing and settlement of trades. MSBPL may also undertake other exchange-approved activities. Mobikwik had incorporated MSBPL in March 2025, marking its formal entry into the capital markets ecosystem. With this move, the company joins the crowded stock broking space dominated by platforms such as Groww, Zerodha, AngelOne, Upstox, and ICICI Direct. Groww currently leads the sector in terms of active user base, followed by Zerodha and AngelOne. The development signals Mobikwik’s continued push to diversify beyond payments into broader financial services. Soon after launching MSBPL, the company set up a wholly owned NBFC subsidiary, while another subsidiary, Zaakpay, received RBI approval to operate as a payment aggregator.

Ahead of IPO, PayU receives final Payment Aggregator license

EntrackrEntrackr · 3m 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.

Wise gets in-principle approval to operate as cross-border payment aggregator

EntrackrEntrackr · 2m ago
Wise gets in-principle approval to operate as cross-border payment aggregator
Medial

Snippet: Wise gets in-principle approval to operate as cross-border payment aggregator Wise, a technology company building the way to move and manage money around the world, has secured in-principle approval from the Reserve Bank of India (RBI) to operate as a payment aggregator – cross border for exports. According to Wise, this approval builds on its accelerating momentum in India, where the company powers 10% of all money sent from abroad to India, while also enabling customers to send low-cost and fast transfers from the country. With the new licence, Wise will be able to support higher transaction limits of up to 25 lakh for freelancers and businesses receiving cross-border payments through its international account details feature. Launched in 2011, Wise is a global technology company, building the way to move and manage the world's money. With Wise Account and Wise Business, people and businesses can hold 40 currencies, move money between countries, and spend money abroad.

Download the medial app to read full posts, comements and news.