PhonePe gets RBI approval to operate as online payment aggregator
This story was originally published at 11:40 IST on 20 September 2025
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NEW DELHI – PhonePe Ltd. has received final authorisation from the Reserve Bank of India to operate as an online payment aggregator, the digital payments company said Friday. The RBI authorisation enables PhonePe to tap online merchants across the country.
"With this authorisation, PhonePe is well-positioned to accelerate financial inclusion by providing accessible payment solutions to businesses that were previously underserved, particularly in the SME (small and medium enterprises) segment," Yuvraj Singh Shekhawat, chief business officer – merchant business at PhonePe, was quoted as saying in a release. "The company's focus on serving both established enterprises and emerging businesses aligns with its goal of enabling broader digital financial inclusion." End
Reported by Shubham Rana
Edited by Akul Nishant Akhoury
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