PayU, a diversified fintech platform, has received authorisation from the Reserve Bank of India to operate as a payment aggregator under the Payment and Settlement Systems Act. The approval covers online, offline and cross border transactions, including both inward and outward payments.
With this authorisation, PayU can provide secure and compliant payment acceptance, settlement and cross border services for merchants across different channels. The company said in a statement that the approval will help it offer seamless solutions for businesses.
This development strengthens PayU’s role as a full stack digital payments provider. The company said it aims to support businesses with reliable and smooth payment experiences across online, offline and cross border touchpoints.
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