Question
Which payment company has launched its Account
Aggregator (AA) services via its wholly-owned subsidiary that will enable Indian consumers to share their financial data with regulated financial institutions or Financial Information Users (FIUs) for purposes such as loan applications, purchasing insurance, receiving investment advice, among others?Solution
PhonePe has launched its Account Aggregator (AA) services via its wholly-owned subsidiary PhonePe Technology Services (PTSPL). The AA services will enable Indian consumers to share their financial data with regulated financial institutions or Financial Information Users (FIUs) for purposes such as loan applications, purchasing insurance, receiving investment advice, among others. PTSPL has integrated with various FIPs such as YES Bank, Federal Bank, and AU Small Finance Bank, among others.
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