BharatPe gets in-principle nod for payment aggregator licence

Fintech firm BharatPe on Tuesday said that it has received in-principle approval from the Reserve Bank of India (RBI) to operate as a payment aggregator. The company will operate the platform through its subsidiary Resilient Payments, a statement said.

“This in-principle approval will help catapult our expansion plans and enable us to reach out to millions of more unbanked and underserved merchants, provide digital payment acceptance solutions and in turn, get them to be a part of the digital India story,” Nalin Negi, CFO and interim CEO, BharatPe, said.

The final approval of the RBI is subject to certain conditions and the company is working towards fulfilling the conditions, it said. The RBI in 2020 had directed online non-bank payment aggregators to seek its approval to start operations.