PayU Receives Authorisation from RBI as a Payment Aggregator

PayU has obtained integrated authorisation from the Reserve Bank of India (RBI) to operate as a payment aggregator. This authorisation allows the company to facilitate online, offline, and cross-border transactions in accordance with the Payment and Settlement Systems Act. The approval empowers PayU to manage transaction collections and fund movements for merchants in both physical and digital contexts while handling international payments.

Under the terms of the licence, PayU is permitted to onboard businesses, oversee payment flows, and execute settlements in line with the regulator’s directives. A representative of the company highlighted that this approval expands PayU’s capability to assist merchants through a unified payment infrastructure.

Expanded Operational Scope for PayU

The clearance from the RBI confirms PayU’s ability to oversee both domestic and international transactions under the regulator’s supervision. This endorsement positions PayU among the entities authorised to provide comprehensive aggregation services.

Current Payment Solutions Offered

Currently, PayU facilitates payments for businesses utilizing various methods such as cards, UPI, net banking, and a range of online options. The guidelines set by the RBI for payment aggregators necessitate compliance with minimum capital requirements, governance standards, and security measures for operations across diverse categories.

With this recent authorisation, PayU is set to continue enrolling merchants and expanding its service offerings while adhering to the established regulatory framework.