RBI Grants Payment Aggregator Licence To Amazon Pay

RBI Grants Payment Aggregator Licence To Amazon Pay

SUMMARY

As per RBI website, the central bank greenlit the company’s application on February 20

The company said that the licence will allows it strengthen its distribution channels and deliver innovative solutions for merchants and customers

In total, RBI has granted the PA licence to 10 applicants in 2024 so far including names such as JusPay, Stripe, Tata Payments, Mswipe, among others

Ecommerce giant Amazon’s fintech arm, Amazon Pay, has received authorisation from the Reserve Bank of India (RBI) to operate as a payments aggregator (PA).

As per RBI website, the central bank greenlit the company’s application on February 20. With this, Amazon Pay joins a growing list of companies that have received the coveted licence this year so far. 

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