PayU, one of India’s leading digital financial services providers, today announced that it has received in-principle authorization from the Reserve Bank of India (RBI) in relation to online payment aggregation (PA).
Anirban Mukherjee, CEO, PayU, said:
“We would like to thank the Reserve Bank of India (RBI) for granting PayU in-principle approval. We appreciate the confidence RBI has shown us and we are ready to welcome new businesses to our platform.”
He further added, “This authorization is vital in our mission to build a world-renowned digital payments infrastructure rooted in India. In line with the government’s Digital India initiative and RBI’s progressive regulations, we are committed to promoting digitization and financial inclusion, especially for small traders.”
PayU has garnered huge interest from businesses across sectors and sizes to join its platform. Its mission is to build a world-leading digital payments infrastructure originating in India, for India and the world, accelerating its next phase of growth.