RBI gives final approval to PayU for online payment aggregator | Mint

PayU has announced that it has received the final authorisation from the Reserve Bank of India (RBI) to operate as an Online Payment Aggregator under the Payment and Settlement Systems Act, 2007, reported NewsVoir.

“We are grateful to the RBI for granting us the opportunity to be a responsible contributor to India’s payments ecosystem. 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. We sincerely thank our partners, merchants, employees, customers, and all other stakeholders for their continued trust and support,” said a PayU Spokesperson.

Digital payments

This online payment service provider runs businesses that are regulated by the Reserve Bank of India (RBI) and offers solutions to meet the digital payment requirements of the Indian market. PayU India companies aim to create a full-stack digital financial services platform to serve all (tapped and untapped) financial needs of customers (e-commerce brands, banks and consumers) through technology solutions.

PayU Payments provides payment gateway solutions to online businesses including India’s leading enterprises, e-commerce giants and SMBs. It enables businesses to collect digital payments across 150 online payment methods such as Credit Cards, Debit Cards, Net Banking, EMIs, QR, UPI, Wallets, and more.

It’s a preferred partner in the affordability ecosystem, offering the maximum coverage of issuers and easy-to-implement integrations across card-based EMIs, pay-later options and new-age cardless EMIs. PayU offers e-commerce brands best-in-industry success rates while ensuring a seamless checkout experience.

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