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    Techfino raises Rs 65 crore to scale secured MSME lending

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    FlexiLoans bags Rs 375 crore in equity funding in Series C round

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PayU bags RBI approval to operate as online payment aggregator

This approval places PayU among a limited number of companies formally recognized to facilitate online transactions between merchants and customers in India

B2B Market Media by B2B Market Media
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PayU Payments has secured 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.

This approval places PayU among a limited number of companies formally recognized to facilitate online transactions between merchants and customers in India, as the RBI continues tightening regulations in the digital payments sector to ensure greater security and compliance.

The RBI’s move is part of its broader framework to regulate digital payments intermediaries in India. Since 2020, the central bank has mandated that all entities offering payment aggregation services must seek authorisation to ensure transparency, safeguard consumer interests, and streamline digital transactions.

By granting PayU the final license, the RBI has acknowledged the company’s compliance with key operational, technical, and governance norms laid down for aggregators. This includes due diligence in onboarding merchants, maintaining escrow accounts, and implementing robust grievance redressal mechanisms.

With the authorization in place, PayU can continue to legally onboard new merchants, a process that was temporarily restricted for many applicants during the scrutiny period. The move also allows PayU to expand its suite of payment gateway services while ensuring alignment with regulatory expectations.

PayU, backed by global investor Prosus, claims to serve over 500,000 businesses in India, offering services across 150+ digital payment methods. While these numbers indicate its market reach, the RBI’s authorisation places greater accountability on the company to uphold consumer protection and financial integrity.

As digital transactions become more integral to India’s economy, the RBI’s licensing process is seen as a crucial filter to ensure only serious players operate in this space. More than 180 firms had applied for aggregator licenses, with only a fraction receiving final approval as of early 2025.

PayU’s approval comes at a time when the central bank is pushing for a more resilient and secure digital payment ecosystem, under the broader umbrella of the government’s Digital India initiative.

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Tags: Digital Paymentsgrievance redressalpayment aggregation servicesPayment and Settlement Systems ActPayU PaymentsReserve Bank of India
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