Question
Recently which of the folloiwng has received an
in-principle approval from the Reserve Bank of India (RBI) to operate as a payment aggregator?Solution
Infibeam Avenues, which operates CCAvenue, has received an in-principle approval from the Reserve Bank of India (RBI) to operate as a payment aggregator (PA). It joins a list of entities who have received the in-principle approval from RBI for a PA licence. This will enable them to further expand their reach in multiple business segments for both online and offline digital transactions. Learn Along: RBI Headquarters: Mumbai Governor: Shaktikanta Das 4 Deputy Governors: T. Rabi Sankar, MK Jain, MD Patra, M Rajeshwar Rao Infibeam Headquarters: Ahmedabad CEO: Vishal Mehta A payment aggregator is a service provider that allows merchants to process mobile or e-commerce payments. They let businesses accept credit and debit card payments without setting up a merchant account through a bank.
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