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

EntrackrEntrackr · 7m 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.

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Paytm gets RBI approval for offline and cross border payment aggregation

EntrackrEntrackr · 24d 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.

Ahead of IPO, PayU receives final Payment Aggregator license

EntrackrEntrackr · 8m 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.

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