aggregator

Payment aggregators such as CCAvenue and Pine Labs' Plural have seen an increase in onboarding of new users and gained more online merchants after top payment gateways like Razorpay, Cashfree Payments, PayU and Paytm paused new sign-ups following regulator's order and rejection of payment aggregator (PA) licence applications by the Reserve Bank of India (RBI) in some cases, at least half a dozen executives told ET. Indian banks that have their white-label payment processing offerings have also seen a rise in merchant…

Fintech startup EnKash has got in-principle approval from RBI for payment aggregator's licence, the company said.The licence will enable EnKash to broaden its product offerings to millions of businesses for digital transactions.Founded in 2018, EnKash claims to have assisted 1 lakh businesses to digitise and decentralise their corporate payments."RBI's in-principle approval to EnKash reiterates the need for digital solutions to manage business cash flows in an efficient way to sustain growth and profitability. This will…

BENGALURU : A year after its official release, India’s Account…

Digital payments and financial services company Paytm has shared an update with the exchanges about its 100 per cent subsidiary, Paytm Payments Services.The fintech company said that it has received a letter from the Reserve Bank of India in response to an application from its subsidiary for the authorisation to provide payment aggregator services for online merchants.The company can now resubmit the application within 120 calendar days for the payment aggregator services. Ahead of that, the company will seek necessary…

Image Source : UBER + FREEPIK Uber Ride-hailing platform Uber on Friday said it has been hit by a cyber attack and is probing the data breach incident with law enforcement officials. According to reports, some of Uber's internal systems were hacked in the data breach and some screenshots on Twitter suggested the hacker got access to the company's internal data. "We are…

Financial services platform Mswipe Technologies on Tuesday said it has received an in-principal Payment Aggregator (PA) license from the Reserve Bank of India (RBI).With this approval, Mswipe will be able to develop an in-house online payment gateway. The PA License will allow the company to bridge the gap between merchants and customers by accepting and processing digital payments."MSMEs are the backbone of the Indian business ecosystem, and the PA License will enable us to provide them with simpler, affordable and…

The Delhi government’s draft aggregator scheme, ‘Delhi Motor Vehicle Aggregator Scheme 2022’, states that all cab companies, food delivery services and online retailers must switch to all-electric fleets by April 1, 2030. The government is seeking feedback on the draft scheme within the next three weeks. The scheme states: “In exercise of the powers conferred to the State Government under sub-section (3) of section 67 of the Motor Vehicle Act, the Transport Dept, GNCTD here by prepares the following the Delhi Motor…

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