New Delhi: The Reserve Bank of India (RBI) on Wednesday gave an in-principle nod to the payment arms of US technology majors Amazon and Google and 30 others including Reliance Jio Infocomm’s Reliance Payment Solutions to operate as online payment aggregators.
WHAT ARE PAYMENT AGGREGATORS?
Online payment aggregators are those entities that on-board digital merchants , and receive payment from the customers on their behalf after getting licence from the payment regulator. The RBI on 17 March 2020 and 31 March 2021 had issued circulars on “Guidelines on Regulation of Payment Aggregators and Payment Gateways”.
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WHO ALL RECEIVED IN-PRINCIPLE AUTHORISATION?
- Pay Mobileware Private Limited
- Airpay Payment Services Private Limited
- Amazon (Pay) India Private Limited
- Cashfree Payments India Private Limited
- Computer Age Management Services Limited
- Digiotech Solutions Private Limited
- Easebuzz Private Limited
- Finlogic Technologies India Private Limited
- Futuretek Commerce Private Limited
- Google India Digital Services Private Limited
- IndiaIdeas.com Limited
- Infibeam Avenues Limited
- Innoviti Payment Solutions Private Limited,
- In-Solutions Global Limited
- Lyra Network Private Limited
- Mpurse Services Private Limited
- NSDL Database Management Limited
- NTT DATA Payment Services India Limited
- Open Financial Technologies Private Limited
- Paymate India Private Limited
- Paysharp Private Limited
- Phi Commerce Private Limited
- Pine Labs Private Limited
- Razorpay Software Private Limited
- Reliance Payment Solutions Limited
- SRS Live Technologies Private Limited
- Stripe India Private Limited
- Tyche Payment Solutions Private Limited
- Vay Network Services Private Limited
- Worldline ePayments India Private Limited
- Xsilica Software Solutions Private Limited
- Zomato Payments Private Limited.
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THE APPLICATIONS OF THESE PAYMENT AGGREGATORS ARE UNDER PROCESS
- Adyen India Technology Services Private Limited
- Appnit Technologies Private Limited
- Bhartipay Services Private Limited
- Dinero Payment Services Private Limited
- Dreamplug Paytech Solutions Private Limited
- Global Payments Asia-Pacific (India) Private Limited
- Hiveloop Internet Private Limited
- INSOnline India Private Limited
- Instamojo Technologies Private Limited
- Letzpay Solution Private Limited
- LivQuik Technology (India) Private Limited
- Marg Fintech Private Limited
- Nomisma Mobile Solutions Private Limited
- Paygate India Private Limited
- PhonePe Private Limited
- Senrysa Technologies Private Limited
- Unimoni Enterprise Solutions Private Limited
- Zaak Epayment Services Private Limited
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THE APPLICATIONS OF THESE PAYMENT AGGREGATORS WERE RETURNED
- Freecharge Payment Technologies Private Limited
- PayTM Payments Services Limited
- PayU Payments Private Limited
- Tapits Technologies Private Limited
“All stakeholders are advised to transact with only those existing PAs (a) who have been granted in-principle authorisation or (b) whose application is currently under process,” said the RBI in a statement. This list will be updated on a fortnightly basis, the statement added.
Those entities who got their applications returned can apply to the RBI within 120 days from the date of central bank’s decision. In a statement after RBI released this list, Paytm said that the company is the process of reapplying (for the licence).
“As shared earlier, this does not have any material impact on our online business and revenues. For the offline business, One97 Communications can continue to onboard new merchants and offer them payment services including all-in-one QR, soundbox and card machines,” said Paytm.
