BharatPe gets in-principle nod from RBI to operate as online payment aggregator
18 October 2024
BharatPe said on Tuesday that it has received authorization from the Reserve Bank of India (RBI) to operate as an online payment aggregator. The in-principle approval has been given to Resilient Payments, a subsidiary of Resilient Innovations (BharatPe). “We are excited to receive the in-principle approval for the Online Payment Aggregator License and are thankful to the regulators for entrusting their faith in us. At BharatPe, we have been committed to empowering offline merchants and Kirana store owners in the country and have already built a network of 1 crore merchants across over 400 cities,” said Nalin Negi, CFO and interim CEO, of BharatPe. However, the final authorization is subject to fulfillment of certain conditions. BharatPe said it will now commence work on fulfilling the said conditions within the prescribed timeline and launch its online payments aggregator business upon the receipt of the final authorization from RBI.
BharatPe said on Tuesday that it has received authorization from the Reserve Bank of India (RBI) to operate as an online payment aggregator. The in-principle approval has been given to Resilient Payments, a subsidiary of Resilient Innovations (BharatPe). “We are excited to receive the in-principle approval for the Online Payment Aggregator License and are thankful to the regulators for entrusting their faith in us. At BharatPe, we have been committed to empowering offline merchants and Kirana store owners in the country and have already built a network of 1 crore merchants across over 400 cities,” said Nalin Negi, CFO and interim CEO, of BharatPe. However, the final authorization is subject to fulfillment of certain conditions. BharatPe said it will now commence work on fulfilling the said conditions within the prescribed timeline and launch its online payments aggregator business upon the receipt of the final authorization from RBI.
Stay Connected, Stay Informed –
Don’t miss out on exclusive updates, market trends, and real-time investment opportunities. Be the first to know about the latest unlisted stocks, IPO announcements, and curated Fact Sheets, delivered straight to your WhatsApp.