Facts for Prelims (FFP)
Source: Business Standard
Context: Several startups, including Decentro, Juspay, and Zoho, have recently obtained regulatory approval from the Reserve Bank of India (RBI) to operate as payment aggregators (PAs).
- Other notable companies that received licenses earlier include Zomato, Stripe, and Tata Pay.
A payment aggregator is a service provider that allows businesses to process card payments and mobile transactions. They act as an intermediary between businesses and financial institutions, simplifying the process of accepting electronic payments.
