PayU has received in-principle approval from the Reserve Bank of India (RBI) to operate as a payment aggregator. This development comes after a 2022 RBI ban that restricted payment aggregators, including PayU, from onboarding new merchants. The approval marks a significant step for PayU, allowing the company to resume onboarding new merchants. This move is expected to enhance PayU's operations and its competitive stance against rivals like PhonePe and Razorpay.
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#EconomyToday: PayU gets Payment Aggregator licence from RBI and Catch all the latest news and updates on Business, Economy, and Finance with @ajayddnews 🔗https://t.co/1P6bKhJgdp https://t.co/XNBWjx95Rl
#PhonePe, Razorpay rival PayU Payments cleared by #RBI to operate as #payment aggregator https://t.co/sfjSPIerdW https://t.co/wraA8XM6Ft
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PayU gets in-principle nod from @RBI to be payment aggregator In 2022, the central bank had banned payment aggregators, including PayU, and restricted them from onboarding new merchants to its platform. https://t.co/6NFidClWkg
After 15 months, PayU gets RBI's in-principle nod to operate as a payment aggregator https://t.co/FK12jccGfa via @moneycontrolcom
🚨🚨PayU receives in-principle approval to operate as a payment aggregator... Finally after a long wait the company has received green signal from the RBI to restart onboarding new merchants @ETtech https://t.co/haEigBe3zP
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