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Payment Aggregator

  • 3rd May, 2024
  • RBI allowed the following two entities to act as payment aggregators (PAs).
    • Wealth Management Platform Grow
    • Worldline e-Payments India
  •  PAs facilitate online payments by acting as an intermediary between the customer and the merchant.
  • These are debit card, UPI, bank transfer, credit card, e-wallet; Like giving payment options.
  • PayPal, Amazon Pay etc. are major payment aggregators.
  • RBI allows these under the Payment and Settlement Systems Act, 2007.

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