PayU Achieves RBI Accreditation as Digital Payment Aggregator

PayU, a leading online payments service provider in India, has received the Reserve Bank of India's authorization to operate as an Online Payment Aggregator. This milestone supports PayU's mission to build a compliant and innovative digital financial platform catering to e-commerce, banks, and consumer needs.

PayU, a prominent online payment service provider in India, has been granted authorization by the Reserve Bank of India (RBI) to operate as an Online Payment Aggregator. This groundbreaking achievement comes under the Payment and Settlement Systems Act, 2007, highlighting PayU's legitimacy in the digital payments space.

A spokesperson from PayU expressed gratitude to the RBI for the opportunity to contribute to India's payment ecosystem. He emphasized the company's commitment to creating a compliant, inclusive, and innovation-driven institution that resonates with the Digital India vision embraced by both the RBI and the government.

With Prosus as a key investor, PayU Payments Private Limited aims to expand its digital financial services platform by providing comprehensive solutions for e-commerce brands, banks, and consumers. Their cutting-edge payment gateway technology empowers over 500,000 businesses, supporting more than 150 payment methods and offering seamless checkout experiences.

(With inputs from agencies.)