India’s Worldline ePayments has received the Reserve Bank of India’s (RBI) approval to operate as an online payment aggregator.
The company received in-principle authorisation from the RBI to act as a payment aggregator in 2022.
“We’ve been in the Indian market for more than two decades and have built a leadership position. We work with merchants from various segments such as e-commerce, BFSI, retail, utilities, education, travel, and hospitality for digital payments,” Ramesh Narasimhan, CEO, India, Worldline, said in a statement.
The RBI recently took steps to tighten scrutiny of the online payments sector, asking online payment firms to monitor transactions-related activities of merchants on their platforms and ensure they meet fresh guidelines.
Since late last year, the RBI has approved multiple online payment gateway companies to be PAs including DigiO, PayU, CRED, CC Avenue, Mswipe, Razorpay, Cashfree, Decentro, Zoho, Tata Pay, Google Pay, and EnKash, among others.
“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,” Narasimhan, said.