According to a list released by the Reserve Bank of India, 32 entities have received “in-principle approval” to operate as online payment aggregators. 18 applications are currently being reviewed, with four being returned.
Billdesk, Amazon, Google, Reliance, Razorpay, Pine Labs, Cashfree, Infibeam, Zomato Payments, Open, and Stripe are among those who have received approval. Razorpay and Cashfree are no longer accepting new merchants until further notice. Cred, Instamojo, PhonePe, Zaak Epayment (Mobikwik), and LivQuik are among the 18 applications still in the works. On the other hand Paytm didnt received the license and replied to Startupnews.fyi “We are already in the process of reapplying as updated in our recent earnings release. As shared earlier, this does not have any material impact on our online business and revenues”