Image Source : X/@AMAZONPAY A user using Amazon Pay on her mobile phone.
Amazon Pay, the digital payments division of e-commerce giant Amazon India, has been granted a Payment Aggregator (PA) license by the Reserve Bank of India (RBI), marking a significant milestone for the fintech sector. This accreditation enables Amazon Pay to join a select group of companies, including Zomato, Google Pay, Zoho, and others, authorised to offer online merchant payment services to customers.
Confirmation and commitment
A spokesperson from Amazon Pay confirmed the receipt of official approval from the RBI to function as a payment aggregator. The fintech firm reaffirmed its dedication to simplifying lives and fulfilling the aspirations of merchants and customers alike.
Expanding the list of authorised payment aggregators
The RBI has issued licenses to approximately 10 companies since the beginning of 2024, further diversifying the landscape of online payment aggregators. Notable entities among the newly authorised companies include Zomato, Mswipe, Juspay, Decentro, Zoho, and Stripe.
List of approved online payment aggregators
The RBI has granted authorisation to several entities to operate as Online Payment Aggregators, enhancing competition and innovation in the digital payments ecosystem. Notable names on the list include Amazon (Pay) India Private Limited, PhonePe Private Limited, Pine Labs Private Limited, and others.
Sr No.
Name of the entity
Remarks
1
1Pay Mobileware Private Limited
In-Principle Authorisation Granted
2
Adyen India Technology Services Private Limited
In-Principle Authorisation Granted
3
Airpay Payment Services Private Limited
In-Principle Authorisation Granted
4
Amazon (Pay) India Private Limited
In-Principle Authorisation Granted
5
Bhartipay Services Private Limited
In-Principle Authorisation Granted
6
Computer Age Management Services Limited
In-Principle Authorisation Granted
7
Easebuzz Private Limited
In-Principle Authorisation Granted
8
Finlogic Technologies India Private Limited
In-Principle Authorisation Granted
9
Futuretek Commerce Private Limited
In-Principle Authorisation Granted
10
Hiveloop Internet Private Limited
In-Principle Authorisation Granted
11
IndiaIdeas.com Limited
In-Principle Authorisation Granted
12
Infibeam Avenues Limited
In-Principle Authorisation Granted
13
Innoviti Payment Solutions Private Limited
In-Principle Authorisation Granted
14
In-Solutions Global Limited
In-Principle Authorisation Granted
15
Lyra Network Private Limited
In-Principle Authorisation Granted
16
Mpurse Services Private Limited
In-Principle Authorisation Granted
17
Nomisma Mobile Solutions Private Limited
In-Principle Authorisation Granted
18
NSDL Database Management Limited
In-Principle Authorisation Granted
19
NTT DATA Payment Services India Limited
In-Principle Authorisation Granted
20
Paymate India Private Limited
In-Principle Authorisation Granted
21
Paysharp Private Limited
In-Principle Authorisation Granted
22
Phi Commerce Private Limited
In-Principle Authorisation Granted
23
PhonePe Private Limited
In-Principle Authorisation Granted
24
Pine Labs Private Limited
In-Principle Authorisation Granted
25
Reliance Payment Solutions Limited
In-Principle Authorisation Granted
26
SRS Live Technologies Private Limited
In-Principle Authorisation Granted
27
Tyche Payment Solutions Private Limited
In-Principle Authorisation Granted
28
Unimoni Enterprise Solutions Private Limited *
In-Principle Authorisation Granted
29
Vay Network Services Private Limited
In-Principle Authorisation Granted
30
Worldline ePayments India Private Limited
In-Principle Authorisation Granted
31
Xsilica Software Solutions Private Limited
In-Principle Authorisation Granted
32
Zaak Epayment Services Private Limited
In-Principle Authorisation Granted
33
Dreamplug Paytech Solutions Private Limited
Application Under Process
34
Freecharge Payment Technologies Private Limited*
Application Under Process
35
Global Payments Asia-Pacific (India) Private Limited *
Application Under Process
36
LivQuik Technology (India) Private Limited
Application Under Process
37
PayU Payments Private Limited *
Application Under Process
38
Tapits Technologies Private Limited *
Application Under Process
RBI’s action against Paytm payments
In a related development, the RBI issued an order on January 31, 2024, prohibiting Paytm Payments Bank Limited (PPBL) from accepting fresh deposits or top-ups in customer accounts, wallets, FASTags, and other instruments after February 29. This directive, initially set to take effect on February 29, has been extended to March 15, affecting the operations of Paytm Payments Bank Limited.
Also read | FASTag: Complete your KYC update by February 29 to avoid deactivation, here’s how to do it
