Zaakpay, the payment gateway arm of MobiKwik, has received in-principle authorization from the Reserve Bank of India (RBI) to operate as a payment aggregator (PA).
Banking & Finance
Zaakpay, the payment gateway arm of MobiKwik, has received in-principle authorization from the Reserve Bank of India (RBI) to operate as a payment aggregator (PA). The in-principle approval from the RBI is an important milestone for Zaakpay, as it This will allow it to expand its reach and serve a wider range of merchants. Jackpay already works with several brands in sectors such as e-commerce, mobility and bill payments. A PA license is required by companies that want to collect payments from multiple merchants and then transfer the funds to the merchants' bank accounts. PAs play an important role in the Indian digital payments ecosystem, as they help make it easier for merchants to accept online payments.
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