PB Fintech to Set Up Payment Aggregator Subsidiary – News18

PB Fintech, the promoter of PolicyBazaar, on Wednesday mentioned its board has accepted the incorporation of a completely-owned subsidiary to keep on the enterprise of fee aggregator. The subsidiary referred to as ‘PB Pay Private Limited’ would keep on the enterprise of fee aggregator’ home and/or cross border or each, as could also be permitted by the Reserve Bank of India, by facilitating retailers with offline and/or digital fee acceptance infrastructure or each, the corporate mentioned in a regulatory submitting.

The paid-up share capital of the proposed firm could be Rs 27 crore, it mentioned. The software for the method of incorporation of the proposed wholly-owned subsidiary could be filed and accomplished topic to approval from the related authorities, it mentioned.

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(This story has not been edited by News18 employees and is revealed from a syndicated information company feed – PTI)