Payment Aggregator License from RBI: Resilient Payments Leads in Digital Payments

Resilient Payments Private Limited, affiliated with the BharatPe Group, has successfully obtained the final approval from the Reserve Bank of India (RBI) to function as an online Payment Aggregator (PA). This milestone follows the recent authorisations granted by RBI to various entities in the sector.

In March 2024, Infibeam Avenues achieved final approval from RBI for its PA operations. Subsequently, in April 2024, PayU also received its PA licence, allowing it to recommence onboarding new merchants.

BharatPe’s Unique Position in Fintech

With this development, BharatPe positions itself as the sole Indian fintech entity possessing an NBFC licence (Trillion Loans), a significant stake in a Small Finance Bank (Unity SFB), and now a PA licence.

Resilient Payments: Focus on Digital Payment Solutions

Operating under the brand name BharatPe X, Resilient Payments will concentrate on scaling its digital payment solutions. The company is set to broaden its merchant base, particularly targeting tier 2 and 3 cities, whilst investing in advanced technology infrastructure.

Comprehensive Fintech Services Offered by BharatPe

BharatPe provides a comprehensive fintech platform that integrates payments, credit, and investment services. Currently, it caters to over 1.3 crore merchants across more than 450 cities, processing over 450 million UPI transactions on a monthly basis. The point-of-sale (POS) segment of the company handles transactions totalling Rs. 29,000 crore annually, while BharatPe Money has facilitated loans surpassing Rs 18,000 crore through collaborations with various NBFCs.

Upcoming Innovations: BharatPe X

The company aims to establish a merchant-centric digital payments platform through BharatPe X. Recently, it introduced new secured loan products and made strides into consumer payments with an updated app. Additionally, BharatPe has acquired PAYBACK India (now Zillion) and maintains a notable stake in Unity SFB.