Image Source : X/@AMAZONPAY A consumer utilizing Amazon Pay on her cell phone.
Amazon Pay, the digital funds division of e-commerce large Amazon India, has been granted a Payment Aggregator (PA) license by the Reserve Bank of India (RBI), marking a big milestone for the fintech sector. This accreditation allows Amazon Pay to affix a choose group of corporations, together with Zomato, Google Pay, Zoho, and others, authorised to supply on-line service provider fee companies to clients.
Confirmation and dedication
A spokesperson from Amazon Pay confirmed the receipt of official approval from the RBI to operate as a fee aggregator. The fintech agency reaffirmed its dedication to simplifying lives and fulfilling the aspirations of retailers and clients alike.
Expanding the listing of authorised fee aggregators
The RBI has issued licenses to roughly 10 corporations because the starting of 2024, additional diversifying the panorama of on-line fee aggregators. Notable entities among the many newly authorised corporations embrace Zomato, Mswipe, Juspay, Decentro, Zoho, and Stripe.
List of permitted on-line fee aggregators
The RBI has granted authorisation to a number of entities to function as Online Payment Aggregators, enhancing competitors and innovation within the digital funds ecosystem. Notable names on the listing embrace Amazon (Pay) India Private Limited, PhonePe Private Limited, Pine Labs Private Limited, and others.
Sr No.
Name of the entity
Remarks
1
1Pay Mobileware Private Limited
In-Principle Authorisation Granted
2
Adyen India Technology Services Private Limited
In-Principle Authorisation Granted
3
Airpay Payment Services Private Limited
In-Principle Authorisation Granted
4
Amazon (Pay) India Private Limited
In-Principle Authorisation Granted
5
Bhartipay Services Private Limited
In-Principle Authorisation Granted
6
Computer Age Management Services Limited
In-Principle Authorisation Granted
7
Easebuzz Private Limited
In-Principle Authorisation Granted
8
Finlogic Technologies India Private Limited
In-Principle Authorisation Granted
9
Futuretek Commerce Private Limited
In-Principle Authorisation Granted
10
Hiveloop Internet Private Limited
In-Principle Authorisation Granted
11
IndiaConcepts.com Limited
In-Principle Authorisation Granted
12
Infibeam Avenues Limited
In-Principle Authorisation Granted
13
Innoviti Payment Solutions Private Limited
In-Principle Authorisation Granted
14
In-Solutions Global Limited
In-Principle Authorisation Granted
15
Lyra Network Private Limited
In-Principle Authorisation Granted
16
Mpurse Services Private Limited
In-Principle Authorisation Granted
17
Nomisma Mobile Solutions Private Limited
In-Principle Authorisation Granted
18
NSDL Database Management Limited
In-Principle Authorisation Granted
19
NTT DATA Payment Services India Limited
In-Principle Authorisation Granted
20
Paymate India Private Limited
In-Principle Authorisation Granted
21
Paysharp Private Limited
In-Principle Authorisation Granted
22
Phi Commerce Private Limited
In-Principle Authorisation Granted
23
PhonePe Private Limited
In-Principle Authorisation Granted
24
Pine Labs Private Limited
In-Principle Authorisation Granted
25
Reliance Payment Solutions Limited
In-Principle Authorisation Granted
26
SRS Live Technologies Private Limited
In-Principle Authorisation Granted
27
Tyche Payment Solutions Private Limited
In-Principle Authorisation Granted
28
Unimoni Enterprise Solutions Private Limited *
In-Principle Authorisation Granted
29
Vay Network Services Private Limited
In-Principle Authorisation Granted
30
Worldline ePayments India Private Limited
In-Principle Authorisation Granted
31
Xsilica Software Solutions Private Limited
In-Principle Authorisation Granted
32
Zaak Epayment Services Private Limited
In-Principle Authorisation Granted
33
Dreamplug Paytech Solutions Private Limited
Application Under Process
34
Freecharge Payment Technologies Private Limited*
Application Under Process
35
Global Payments Asia-Pacific (India) Private Limited *
Application Under Process
36
LivQuik Technology (India) Private Limited
Application Under Process
37
PayU Payments Private Limited *
Application Under Process
38
Tapits Technologies Private Limited *
Application Under Process
RBI’s motion towards Paytm funds
In a associated growth, the RBI issued an order on January 31, 2024, prohibiting Paytm Payments Bank Limited (PPBL) from accepting contemporary deposits or top-ups in buyer accounts, wallets, FASTags, and different devices after February 29. This directive, initially set to take impact on February 29, has been prolonged to March 15, affecting the operations of Paytm Payments Bank Limited.
Also learn | FASTag: Complete your KYC replace by February 29 to keep away from deactivation, here is the right way to do it
Source: www.indiatvnews.com
