PhonePe Decides To Exit Account Aggregator Business

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SUMMARY

“We have decided to surrender our NBFC-AA licence to the RBI, and initiated the wind down of our AA operations,” said PhonePe in a statement

The company cited its inability to onboard a sufficient number of financial information providers (FIPs) to its platform

PhonePe will be partnering with other AAs in the market to bolster financial inclusion.

Fintech major PhonePe has decided to exit its Account Aggregator (AA) business and will be partnering with other AAs in the market. 

“We have decided to surrender…



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PhonePe Decides To Exit Account Aggregator Business


SUMMARY

“We have decided to surrender our NBFC-AA licence to the RBI, and initiated the wind down of our AA operations,” said PhonePe in a statement

The company cited its inability to onboard a sufficient number of financial information providers (FIPs) to its platform

PhonePe will be partnering with other AAs in the market to bolster financial inclusion.

Fintech major PhonePe has decided to exit its Account Aggregator (AA) business and will be partnering with other AAs in the market. 

“We have decided to surrender…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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