Of late, several large companies have received the Reserve Bank of India (RBI's) nod to operate as payment aggregators. BharatPe got the licence in January 2023, Google Pay in December 2023 and Amazon Pay in 2024. The RBI had cancelled the licence for Paytm in November 2022, but the company in September this year said they would re-apply for it. PhonePe had received the licence in March 2023.
Many of these payment aggregators are now making their own payment orchestration systems.
This story is from the December 03, 2024 edition of Financial Express Mumbai.
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This story is from the December 03, 2024 edition of Financial Express Mumbai.
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