PAYMENT AGGREGATORS

CAMS looking to now expand into education as one potential, extra niche that could scale up the business. They are moving forward to be both a payment aggregator and payment gateway and there will be some build-out of opportunity in the education sp...

Amazon Pay India intensified competition with Paytm, PhonePe, and Google Pay, receiving a capital infusion of Rs 600 crore. The company invested Rs 950 crore in the platform and Amazon Seller Services, facing challenges due to RBI actions. With tie-...

Hitachi Payment Services has received RBI's final authorization to operate as an Online Payment Aggregator under the Payments and Settlement Systems Act, 2007. This authorization allows Hitachi to expand its digital services, offering comprehensive ...

Paytm co posted 19% y-o-y rise in total flight bookings in March quarter. International flight bookings on the platform rose 15% y-o-y in April. Recently the fintech firm also partnered with Samsung to offer flight, movies and event ticket booking t...

SabPaisa, a payment solutions provider, has received final approval from RBI to function as a Payment Aggregator under the Payments and Settlement Systems Act, 2007. Pathikrit Dasgupta, the CEO, highlighted the milestone, dedication to excellence, a...

Aurionpro Payment Solutions, a Mumbai-based technology company, authorized by RBI as an online payment aggregator via AuroPay, with shares closing at Rs 2,669.40 on BSE.

Mutual fund investors faced disappointment as a technical glitch led to delayed NAV allotment amid a stock market crash. Many investors demanded compensation for losses incurred due to the glitch.

Abhaya Hota has previously served as an Independent Director at Federal Bank, NSE Clearing, Protean e-Gov Technologies and RBI Innovation Hub. Cashfree Payments plans to leverage Hota's experience and expertise to develop innovative products and ser...

The digital payments industry representatives met with senior officials of the Reserve Bank of India to share their feedback on the recently released draft guidelines for payment aggregators. This comes when US payment giant Stripe seems to be withd...

Stripe has shifted to an 'invite only' mode in India for merchants, citing strict KYC requirements. The move may indicate a shift towards cross-border payments, with support for more Indian merchants expected by the second half of 2025.

Jio Finance will offer UPI payments, bill payments, insurance advisory and digital banking. Eventually Jio Financial Services will offer credit products like loans against mutual funds, home loans and others to its customers through the app.

The RBI had unveiled draft guidelines in January this year, following which industry participants sent in their responses. The regulator wants the SRO to be truly representative of multiple participants across the fintech space.

Cashfree will also see another transition in its organisational structure with Arun Tikko, the chief business officer, being elevated to a bigger role to lead the international expansion of its business across new markets. Harsh Gupta will now focus...

Food delivery platform Zomato on Monday reported a consolidated net profit of Rs 175 crore for the quarter ended March 31, 2024, as against a loss of Rs 188 crore reported in the year-ago period.

The PA licence will allow Bengaluru-based Groww to process online payments by itself. The licence was issued in the name of the company's subsidiary payment business Groww Pay.

In 2022, the central bank had banned payment aggregators, including PayU, and restricted them from onboarding new merchants to its platform.

The new rules will be applicable to existing payment aggregators such as Razorpay, Cashfree, and PayU, card payment companies, such as Pine Labs, Innoviti Payments, and MSwipe, and QR code deployers, such as PhonePe, BharatPe and Google Pay.

PB Fintech, the promoter of Policy Bazaar, on Wednesday said its board has approved the incorporation of a wholly-owned subsidiary to carry on the business of payment aggregator.

As fintech startups try to onboard merchants faster than competition, they’re mostly conducting only the basic checks prescribed by the RBI and skipping enhanced due diligence which could help keep fraudsters away. Large payment companies are approa...