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Ahead of IPO, PayU receives final Payment Aggregator license

EntrackrEntrackr · 7m 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 · 11d 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.

Mswipe gets RBI payment aggregator licence for online and offline transactions

EntrackrEntrackr · 6d 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.

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

EntrackrEntrackr · 8m 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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