RBI gives in-principle approval to 32 entities to act as payment aggregators

The entities who have received in-principle authorization include Amazon (Pay) India Pvt Ltd, Computer Age Management Services Ltd, Google India Digital Services Pvt Ltd, Innoviti Payment Solutions Pvt Ltd, NSDL Database Management Ltd, Reliance Payment Solutions Ltd, Worldline ePayments India Pvt Ltd and Zomato Payments Pvt Ltd, among others.

The applications of entities including PhonePe, Adyen India Technology Services, Bhartipay Services Pvt Ltd, Global Payments Asia-Pacific (India), Unimoni Enterprise Solutions and Instamojo Technologies Pvt Ltd are under process, RBI said.

“All stakeholders are advised to transact with only those existing PAs (a) who have been granted in-principle authorisation or (b) whose application is currently under process,” RBI said in a release.

It said that stakeholders should transact with new PAs only after they have received ‘authorisation’. The regulator will update the list on a fortnightly basis.

RBI further said applications of four existing entities including Freecharge Payment Technologies and PayTM Payments Services have been returned and they have been given time to reapply.

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