RBI grants online payment aggregators licence to Groww & Worldline

Reserve Bank of India (RBI) has given the permission to operate as online payment aggregators to financial services platform Groww and digital payment processing company Worldline ePayments.

With this permission, the number of companies that have received the permission from RBI to operate as payment aggregators has touched 20 in the first four months of calendar year 2024.

Groww has secured the licence for its UPI payments platform Groww Pay. The licence enables Worldline ePayments India to provide payment services for merchants including e-commerce firms or online businesses.

“We work with merchants from various segments such as eCommerce, BFSI, retail, utilities, education, travel, and hospitality for digital payments. The authorisation from RBI is a testimony of our commitment to the Indian market and affirming our focus on compliance and highlighting the significance of a well-regulated payments landscape," said Ramesh Narasimhan, Chief Executive Officer (CEO)-India, Wordline.

This year major players such as Amazon Pay, Digio, CCAvenue, Decentro, MSwipe, Tata Pay, Zoho, Zomato, among others received a final nod from the banking regulator to operate as payment aggregators.

These companies have joined the ranks of other major market participants such as Razorpay, and Cashfree Payments who received their licence in December 2023 after a nearly one-year long ban from on-boarding new merchants.