Amazon Pay, the digital funds division of e-commerce big Amazon India, has been granted a Payment Aggregator (PA) license by the Reserve Bank of India (RBI), marking a major milestone for the fintech sector. This accreditation permits Amazon Pay to hitch a choose group of corporations, together with Zomato, Google Pay, Zoho, and others, authorised to supply online service provider payment providers to clients.
Confirmation and dedication
A spokesperson from Amazon Pay confirmed the receipt of official approval from the RBI to operate as a payment aggregator. The fintech agency reaffirmed its dedication to simplifying lives and fulfilling the aspirations of retailers and clients alike.
Expanding the list of authorised payment aggregators
The RBI has issued licenses to roughly 10 corporations for the reason that starting of 2024, additional diversifying the panorama of online payment aggregators. Notable entities among the many newly authorised corporations embrace Zomato, Mswipe, Juspay, Decentro, Zoho, and Stripe.
List of accredited online payment 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 list 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 in opposition to Paytm funds
In a associated growth, the RBI issued an order on January 31, 2024, prohibiting Paytm Payments Bank Limited (PPBL) from accepting recent 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 |Â FASTag: Complete your KYC replace by February 29 to keep away from deactivation, here’s the right way to do it
