PayU, one of India’s leading digital financial services providers, today announced that it has received the in-principle authorisation from the Reserve Bank of India (RBI) with regard to its online payments aggregation (PA) business.

Anirban Mukherjee, CEO, PayU, said:

“We would like to thank Reserve Bank of India (RBI) for granting PayU the in-principle approval. We value the trust that RBI has placed in us and we are ready to welcome new businesses onto our platform.”

He further added, “This authorisation is pivotal in our mission to establish a globally renowned digital payment infrastructure that is rooted in India. In alignment with government’s Digital India initiative and the RBI’s progressive regulations, we are dedicated to driving digitization and financial inclusion, particularly for small merchants.”

PayU has garnered tremendous interest from businesses across sectors and sizes to join its platform. Its mission is to build a world-leading digital payment infrastructure that originates from India, for India and the world, accelerating its next growth phase.