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RBI Grants Final Approval to PayU to Operate as Online Payment Aggregator.

Banking & Finance | Dated: 20 May 2025

In May 2025, Mumbai-based PayU Payments Private Limited, supported by Amsterdam-based global technology investment firm Prosus, received the Certificate of Authorization (COA) — the final approval from the Reserve Bank of India (RBI) under the Payments and Settlement Systems (PSS) Act, 2007 — to operate as an online Payment Aggregator (PA).

🎯 Key Highlights:

  • - PayU had earlier received in-principle approval from the RBI in April 2024.
  • - PayU is the eighth company to obtain the final PA approval, joining competitors like Razorpay, Cashfree, and CC Avenue.
  • - It ranks as the second-largest Payment Aggregator in India by transaction volume, after BillDesk.

💡 Other Important Facts:

  • (i) As a fintech firm, PayU offers advanced payment gateway solutions to online businesses using its innovative and award-winning technology.
  • (ii) It enables businesses to accept digital payments through multiple modes such as credit cards, debit cards, net banking, Easy Monthly Installments (EMIs), Quick Response (QR) codes, Unified Payment Interface (UPI), wallets, and more.

📚 Test Your Knowledge:

Recently, which company received final approval from the RBI to operate as an online Payment Aggregator?

Correct Answer: PayU

🚀 Quick Recap:

About RBI

  • Governor : Sanjay Malhotra
  • Headquarter : Mumbai