RBI grants in-principal approval to fintech major Razorpay to operate as a payment aggregator

RBI grants in-principal approval to fintech major Razorpay to operate as a payment aggregator

July 12, 2022
The Reserve Bank of India (RBI) has granted in-principle approval to the Fintech major ‘Razorpay’, Stripe, Pine Labs, and 1Pato operate as a payment aggregator. Earlier, in order to ensure safety of merchants and consumers, the RBI had issued a payment aggregator framework in March 2020 stating that payment gateways will be mandated to have a license in order to acquire merchants and provide them with digital payments acceptance solutions.

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