Business
Boost For PhonePe, Gets RBI Nod To Operate As Online Payment Aggregator
With RBI authorisation in place, PhonePe will be able to expand its reach and tap into online merchants, with a particular focus on small and medium businesses (SMEs) across the country
Image: Representational Purpose Only
PhonePe has said it has got the final authorisation from the Reserve Bank of India (RBI) to operate as an online payment aggregator.
According to media reports With RBI authorisation in place, PhonePe will be able to expand its reach and tap into online merchants, with a particular focus on small and medium businesses (SMEs) across the country, according to a release.
The company believes the nod positions it to serve a broader spectrum of enterprises seeking reliable and secure payment processing solutions.
Yuvraj Singh Shekhawat, CBO Merchant Business at PhonePe, said, “With this authorisation, PhonePe is well-positioned to accelerate financial inclusion by providing accessible payment solutions to businesses that were previously underserved, particularly in the SME segment.”