Amazon Pay, the digital funds division of e-commerce big Amazon India, has been granted a Cost Aggregator (PA) license by the Reserve Financial institution of India (RBI), marking a big milestone for the fintech sector. This accreditation permits Amazon Pay to hitch a choose group of firms, together with Zomato, Google Pay, Zoho, and others, authorised to supply on-line service provider fee providers to clients.
Affirmation and dedication
A spokesperson from Amazon Pay confirmed the receipt of official approval from the RBI to operate as a fee aggregator. The fintech agency reaffirmed its dedication to simplifying lives and fulfilling the aspirations of retailers and clients alike.
Increasing the record of authorised fee aggregators
The RBI has issued licenses to roughly 10 firms for the reason that starting of 2024, additional diversifying the panorama of on-line fee aggregators. Notable entities among the many newly authorised firms embrace Zomato, Mswipe, Juspay, Decentro, Zoho, and Stripe.
Listing of authorized on-line fee aggregators
The RBI has granted authorisation to a number of entities to function as On-line Cost Aggregators, enhancing competitors and innovation within the digital funds ecosystem. Notable names on the record embrace Amazon (Pay) India Personal Restricted, PhonePe Personal Restricted, Pine Labs Personal Restricted, and others.
| Sr No. | Identify of the entity | Remarks |
| 1 | 1Pay Mobileware Personal Restricted | In-Precept Authorisation Granted |
| 2 | Adyen India Know-how Providers Personal Restricted | In-Precept Authorisation Granted |
| 3 | Airpay Cost Providers Personal Restricted | In-Precept Authorisation Granted |
| 4 | Amazon (Pay) India Personal Restricted | In-Precept Authorisation Granted |
| 5 | Bhartipay Providers Personal Restricted | In-Precept Authorisation Granted |
| 6 | Laptop Age Administration Providers Restricted | In-Precept Authorisation Granted |
| 7 | Easebuzz Personal Restricted | In-Precept Authorisation Granted |
| 8 | Finlogic Applied sciences India Personal Restricted | In-Precept Authorisation Granted |
| 9 | Futuretek Commerce Personal Restricted | In-Precept Authorisation Granted |
| 10 | Hiveloop Web Personal Restricted | In-Precept Authorisation Granted |
| 11 | IndiaIdeas.com Restricted | In-Precept Authorisation Granted |
| 12 | Infibeam Avenues Restricted | In-Precept Authorisation Granted |
| 13 | Innoviti Cost Options Personal Restricted | In-Precept Authorisation Granted |
| 14 | In-Options World Restricted | In-Precept Authorisation Granted |
| 15 | Lyra Community Personal Restricted | In-Precept Authorisation Granted |
| 16 | Mpurse Providers Personal Restricted | In-Precept Authorisation Granted |
| 17 | Nomisma Cellular Options Personal Restricted | In-Precept Authorisation Granted |
| 18 | NSDL Database Administration Restricted | In-Precept Authorisation Granted |
| 19 | NTT DATA Cost Providers India Restricted | In-Precept Authorisation Granted |
| 20 | Paymate India Personal Restricted | In-Precept Authorisation Granted |
| 21 | Paysharp Personal Restricted | In-Precept Authorisation Granted |
| 22 | Phi Commerce Personal Restricted | In-Precept Authorisation Granted |
| 23 | PhonePe Personal Restricted | In-Precept Authorisation Granted |
| 24 | Pine Labs Personal Restricted | In-Precept Authorisation Granted |
| 25 | Reliance Cost Options Restricted | In-Precept Authorisation Granted |
| 26 | SRS Dwell Applied sciences Personal Restricted | In-Precept Authorisation Granted |
| 27 | Tyche Cost Options Personal Restricted | In-Precept Authorisation Granted |
| 28 | Unimoni Enterprise Options Personal Restricted * | In-Precept Authorisation Granted |
| 29 | Vay Community Providers Personal Restricted | In-Precept Authorisation Granted |
| 30 | Worldline ePayments India Personal Restricted | In-Precept Authorisation Granted |
| 31 | Xsilica Software program Options Personal Restricted | In-Precept Authorisation Granted |
| 32 | Zaak Epayment Providers Personal Restricted | In-Precept Authorisation Granted |
| 33 | Dreamplug Paytech Options Personal Restricted | Software Below Course of |
| 34 | Freecharge Cost Applied sciences Personal Restricted* | Software Below Course of |
| 35 | World Funds Asia-Pacific (India) Personal Restricted * | Software Below Course of |
| 36 | LivQuik Know-how (India) Personal Restricted | Software Below Course of |
| 37 | PayU Funds Personal Restricted * | Software Below Course of |
| 38 | Tapits Applied sciences Personal Restricted * | Software Below Course of |
RBI’s motion in opposition to Paytm funds
In a associated improvement, the RBI issued an order on January 31, 2024, prohibiting Paytm Funds Financial institution Restricted (PPBL) from accepting contemporary deposits or top-ups in buyer accounts, wallets, FASTags, and different devices after February 29. This directive, initially set to take impact on February 29, has been prolonged to March 15, affecting the operations of Paytm Funds Financial institution Restricted.
Additionally learn | FASTag: Full your KYC replace by February 29 to keep away from deactivation, here is how you can do it
 to operate as a Payment Aggregator (PA). This accreditation allows Amazon Pay to join a prestigious group of companies, including Zomato, Google Pay, Zoho, and others.){kind=link}