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PB Fintech Receives RBI Approval to Operate as an Online Payment Aggregator (PA).

Banking & Finance | Dated: 22 Apr 2025

In April 2025, the Reserve Bank of India (RBI) granted in-principle authorisation to PB Pay Private Limited, a wholly owned subsidiary of Gurugram (Haryana)-based PB Fintech Limited, to operate as an Online Payment Aggregator (PA) under the Payment and Settlement Systems Act, 2007.

🎯 Key Highlights:

  • - This approval enables PB Pay to enter the digital payments ecosystem, providing payment processing services and competing with existing players like Razorpay, Cashfree, and CCAvenue.

💡 Other Important Facts:

  • (i) In March 2024, PB Fintech's board approved the incorporation of PB Pay Private Limited to carry out domestic and cross-border payment aggregation services, supporting merchants through both offline and digital payment infrastructure.
  • (ii) The company was incorporated in April 2024 with a proposed authorised share capital of Rs 50 crore and a paid-up share capital of Rs 27 crore.
  • (iii) The RBI introduced the Payment Aggregator (PA) framework in March 2020, requiring entities to obtain a license to onboard merchants and offer digital payment acceptance services.

📚 Test Your Knowledge:

Recently, which company received in-principle approval from the RBI to operate as an Online Payment Aggregator (PA)?

Correct Answer: PB Fintech

🚀 Quick Recap:

About RBI

  • Governor : Sanjay Malhotra
  • Headquarter : Mumbai