PayU

On April 2024, PayU obtained in-principle approval from the Reserve Bank to function as a payment aggregator, enabling the onboarding of new merchants for digital payment services.

Earlier, applications were returned, requiring resubmission within 120 days.
With approval, PayU can onboard new merchants for digital payment solutions.
CEO Anirban Mukherjee highlights the significance for small merchants and financial inclusion.
PayU aims to bolster India's digital payment infrastructure in line with Digital India initiatives.
The approval aligns with RBI's progressive regulations to drive digitization and financial inclusivity.