PayU Secures RBI Nod to Operate as Full-Scale Payment Aggregator
PayU has received comprehensive authorisation from the Reserve Bank of India (RBI) to function as a Payment Aggregator, covering online, offline, and cross-border transactions.
Key Takeaways
- RBI grants PayU integrated Payment Aggregator license.
- Approval covers online, physical, and cross-border payments.
- Enables seamless payment acceptance and settlement for merchants.
The authorization under the Payment and Settlement Systems (PSS) Act includes both ‘Inward and Outward’ cross-border transactions. This allows PayU to provide merchants with unified payment solutions across all channels.
“This milestone reinforces our commitment to building a resilient and innovation-driven payments ecosystem, enabling us to offer secure, transparent, and customer-first payment solutions, including seamless omni-channel experiences for merchants of all sizes,” said a PayU spokesperson.
The company emphasized that this development solidifies its position as a full-stack digital payments provider, empowering businesses with reliable payment experiences across all touchpoints.
