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Ahead of IPO, PayU receives final Payment Aggregator license

EntrackrEntrackr ยท 8m ago
Ahead of IPO, PayU receives final Payment Aggregator license
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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. โ€œAs we move forward, we remain dedicated to building a resilient, compliant, inclusive, and innovation-driven institutionโ€”one that serves merchants of all sizes and contributes meaningfully to the Digital India vision of the RBI and the Government,โ€ 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 organizationโ€™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 Indiaโ€™s real-time payments space and leveraging Mindgateโ€™s expertise to drive digital payment innovation globally. Several other startups have secured authorization from the RBI as payment aggregators. MobiKwikโ€™s subsidiary Zaakpay and PB Fintechโ€™s subsidiary PB Pay received in-principle approval, and BharatPeโ€™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 final RBI nod to operate as a payment aggregator

EntrackrEntrackr ยท 1m ago
Paytm gets final RBI nod to operate as a payment aggregator
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Paytm gets final RBI nod to operate as a payment aggregator Paytm Payments Services Limited has secured the Reserve Bank of Indiaโ€™s Certificate of Authorization to operate as a Payment Aggregator, according to the companyโ€™s stock exchange filing on November 26. This marks a major regulatory development for Paytm and follows the in-principle approval granted by the banking regulator in August this year. Paytm Payments Services had reapplied for the licence in September 2024 after the central bank rejected its application in November 2022 due to issues related to foreign investment norms. The in-principle nod had allowed the company to complete system audits and other mandated processes before seeking the final approval. The PA licence will allow Paytm to onboard new online merchants, expand payment volumes, and boost revenues. Paytmโ€™s revenue from operations increased to Rs 2,061 crore in Q2 FY26 from Rs 1,659 crore in Q2 FY25. Despite the top-line growth, its net profit nosedived 98% YoY to Rs 21 crore from Rs 930 crore a year ago, largely due to the absence of a one-time gain that boosted the base quarter and an impairment loss booked this time.

PayU to onboard new merchants as it gets PA license from RBI

EntrackrEntrackr ยท 1y ago
PayU to onboard new merchants as it gets PA license from RBI
Medial

PayU has received in-principle approval from The Reserve Bank of India (RBI) to operate as a payment aggregator. The nod will also allow the fintech firm to onboard new merchants on its platform. Back in January 2023, the apex banking body (RBI) had asked PayU to reapply for the license and consequently, the Prosus-controlled firm had to halt onboarding new customers. As per reports, the fintech firmโ€™s complex corporate structure was one reason behind the rejection. RBI appears to have become hyper-active in the last few years as it has been hammering several segments such as PA-PG, peer-to-peer lending, buy now pay later (BNPL), abuse of credit cards and structure of non-banking financial corporations (NBFCs). PayU is the latest firm to get RBIโ€™s nod along with a clutch of fintech firms including Razorpay, Cashfree, Open, EnKash, Juspay, Infibeam et al. As per an ET report, Cred also received payment aggregator license but the official confirmation is awaited from both sides (RBI and Cred). PayU is one of the fintech firms along with MobiKwik, Pine Labs, and Navi among others, which have been eyeing initial public offerings. In India, PayU has a base of over 5,00,000 merchants across three business sectors โ€“ payments, credit, and PayTech. It also claims to generate over $60 billion in annualised volumes (read as total transaction volume or TPVs). PayUโ€™s Indian entity reported more than 30% growth in its revenue to $400 million (Rs 3,300 crore) for the financial year ended in March 2023. Even in the current fiscal, the firm maintained the show with $211 million (Rs 1,700 crore) in revenue from Indian operations.

Paytm gets RBI approval for offline and cross border payment aggregation

EntrackrEntrackr ยท 1m 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.

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