PayU receives RBI approval to operate as payment aggregator

PayU receives RBI approval to operate as payment aggregator

PayU has received in-principle approval from the Reserve Bank of India to operate as a payment aggregator, enabling new merchant onboarding. The RBI's move follows a previous rejection due to PayU's complex corporate structure. This approval aligns with RBI's recent active oversight of fintech sectors. PayU joins a list of firms including Razorpay and Cashfree receiving similar nods.