Worldline ePayments India secures RBI approval as payment aggregator

Worldline ePayments India announced on Tuesday that it has obtained approval from the Reserve Bank of India (RBI) to function as a payment aggregator, marking a major milestone for the company.

Amid increasing regulatory scrutiny in the payments sector, the RBI has recently intensified its oversight, urging online payment entities to closely monitor merchants' transaction-related activities on their platforms to ensure compliance with updated guidelines.

Ramesh Narasimhan, CEO of Worldline India, stressed on the significance of the RBI authorisation, stating, "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."

This approval comes in the wake of the RBI granting an in-principal approval to PayU, backed by Prosus, to operate as a payment aggregator, underscoring the regulatory efforts to bolster oversight and regulation within the payments ecosystem.

(With Reuters inputs)