ETtech Explainer: The headlong rush for a payment aggregator licence

The Reserve Bank of India (RBI) announced the first batch of payment aggregator licences on Tuesday. The likes of Razorpay, Cashfree, Open Financial Technologies, Enkash, and Google Pay all made it to the list.

While recognition from the central bank is always a big deal for startups, for Cashfree and Razorpay it meant finally getting back to business. For a year or so, these startups were barred from onboarding new merchants by the central bank.