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New Payment Aggregator Approval
February 15 , 2024
81 days
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- RBI has authorized payment aggregator license to Zoho and fintech companies Juspay and Decentro.
- Earlier Stripe, Zomato, and Tata Pay received approval in January 2023.
- Major fintech players like Razorpay and Cashfree received the license in 2022.
- Till now, a total of 8 companies have got the payments aggregator license from the RBI.
- The license allows companies to offer payment services to online businesses and e-commerce companies.
- They will accept payments from customers on behalf of merchants and pool the funds before transferring them to merchants after a set period of time.
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