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Payment aggregators

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.