Groww and Worldline ePayments approved by RBI as Payment Aggregators

Groww Pay has obtained a license for its UPI payment platform, while Worldline ePayments India has acquired a license to provide payment services to merchants, such as e-commerce firms and online businesses.

Groww and Worldline ePayments approved by RBI as Payment Aggregators

Groww, a financial services platform, and Worldline ePayments, a digital payment processing company, have obtained RBI’s license to operate as online payment aggregators.

Ramesh Narasimhan, Chief Executive Officer – India, Worldline, said, “We’ve been in the Indian market for more than two decades and have built a leadership position. We work with merchants from various segments such as eCommerce, BFSI, Retail, Utilities, Education, Travel, and Hospitality for digital payments. The authorization from RBI is a testimony of our commitment to the Indian market and affirming our focus on compliance and highlighting the significance of a well-regulated payments landscape.”

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In the current year, some of the most well-known businesses such as Amazon Pay, Digio, CCAvenue, Decentro, MSwipe, Tata Pay, Zoho, Zomato, and others have obtained the final approval from the banking authority to function as payment aggregators. These businesses have now joined the league of other crucial industry players, including Razorpay and Cashfree Payments. These two companies got their licenses in December 2023, after a nearly one-year ban on enlisting new merchants.

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Over 28 companies have received in-principle approval from the RBI to function as payment aggregators. Many companies received licenses this year as they moved through the final phases of approval after requesting to become payment aggregators.

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