Exclusive: Rivals snag new uses as top payment gateways hit by RBI freeze

Payment aggregators such as CCAvenue and Pine Labs’ Plural have seen an increase in onboarding of new users and gained more online merchants after top payment gateways like Razorpay, Cashfree Payments, PayU and Paytm paused new sign-ups following regulator’s order and rejection of payment aggregator (PA) licence applications by the Reserve Bank of India (RBI) in some cases, at least half a dozen executives told ET.