PayU gets RBI approval to operate as multi mode Payment Aggregator

PayU, a diversified fintech platform, said it had received integrated authorisation from the Reserve Bank of India (RBI) to operate as a Payment Aggregator crossed online, offline (physical) and cross-border transactions, including some ‘Inward and Outward’, nether the Payment and Settlement Systems (PSS) Act. 

This support enables PayU seamless outgo acceptance, settlement and cross-border solutions for merchants crossed channels. 

“This milestone reinforces our committedness to gathering a resilient and innovation-driven payments ecosystem, enabling america to connection secure, transparent, and customer-first outgo solutions, including seamless omni-channel experiences for merchants of each sizes,” said a PayU spokesperson.

“This development further strengthens PayU’s presumption arsenic a full-stack integer payments provider, empowering businesses with reliable and seamless experiences crossed online, offline and cross-border touchpoints,” the steadfast added.