Question
Which company received final approval from the RBI to
operate as an online payment aggregator in India?Solution
PhonePe received RBIβs final authorisation to function as an online payment aggregator, enabling expansion in digital merchant services, especially for SMEs. With over 650 million users and a 45-million merchant network, PhonePe processes around 360 million daily transactions. This approval strengthens its payment gateway and merchant onboarding capabilities.
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