The Reserve Bank of India (RBI) has approved Enkash, Razorpay, OpenMoney and Cashfree Payments to operate as Payment Aggregators (PAs). All the four fintech entities informed about the development on micro-blogging site X.
“We are delighted to be one of the first payment gateways to have received the final PA licence from RBI!,” Razorpay wrote on X.
Similarly, EnKash also took to X and wrote, “EnKash is now officially authorised by the @RBI as a payment aggregator! Let the seamless transactions begin!”
The approval from the RBI reinforces EnKash’s commitment to compliance and adherence to the highest standards in the financial technology industry, according to a statement by EnKash.
Yadvendra Tyagi, Co-Founder, Enkash, said in the statement, “We are thrilled to have received approval from the Reserve Bank of India, making us the first new applicant in the cohort. This affirms our commitment to maintaining regulatory standards and highlights the significance of our role in advancing the industry. The milestone also underscores our commitment to provide seamless, innovative and reliable payment solutions, further solidifying our position as a trusted partner for businesses looking to thrive in the digital economy.”
OpenMoney also took to X to inform about getting a licence from RBI to be a payment aggregator.
“We are thrilled to announce that Open has been granted #RBI approval to operate as a Payment Aggregator/Payment Gateway (PA/PG). The licence will strengthen our financial automation platforms, enabling us to empower SMEs with tools to seamlessly manage their finances & payments,” it wrote on X.
On the similar lines, Cashfree Payments also gave the information on X, saying, “We have received the final authorisation to operate as a payment aggregator by the RBI. We are thrilled to announce that we are now onboarding businesses on Cashfree Payment Gateway!”