Prosus-owned payment solutions major PayU India has received the final authorisation from the Reserve Bank of India (RBI) to operate as a payment aggregator (PA).

“We are pleased to share that PayU Payments Pvt. Ltd. has received final authorization from the RBI to operate as an online payment aggregator under the Payment and Settlement Systems Act, 2007. We are deeply grateful to the RBI for the trust placed in us and for the opportunity to contribute responsibly to India’s dynamic payments ecosystem,” a PayU spokesperson said in a statement.

The company said that the central bank’s nod will allow it to build a “resilient, compliant, inclusive, and innovation-led institution”, “empower” merchants of all sizes and “play a meaningful role in advancing the Digital India vision”.

The development comes a year after PayU received in-principle approval from the RBI in April 2024 to operate as an online payment aggregator.

For context, a and deploy digital payments solutions. It allows the licence holder to enable online merchants to accept various payment instruments, pool collections from customers and get settlements, without the need to create a separate payment integration system of their own.

However, PAs have to comply with stringent norms such as customer verification, implementing risk-based payment limits, monitoring transaction activity, among others.

Founded in 2002 by Nitin Gupta, Shailaz Nag, Jose Velez, Martin Schrimpff, Arjan Bakker, and Grzegorz Brochocki, PayU offers digital payments and lending solutions. In 2011, ibibo launched PayU PG for websites to integrate ecommerce transactions with online payments, but the entity was demerged from the parent to form PayU India in 2014, with Gupta and Nag as its cofounders.

On the financial front, the fintech company clocked a revenue of $319 Mn from its core payments and credit business in H1 FY25, up 28% from $254 Mn in the year-ago period.

The RBI’s nod comes at a time when the company is gearing up for its IPO on the Indian bourses. Prosus initially planned to take PayU public in India in 2024 at a valuation of $5 Bn to $7 Bn but it shelved the plans later due to market volatility.

Afterwards in November 2025, Prosus president and chief investment officer Ervin Tu hinted that PayU could list on the Indian exchanges in 2025. While no clarity has emerged since then, via a rights issue.

Notably, the RBI has been dishing out PA licences in droves. Last month, listed fintech company MobiKwik’s subsidiary Zaakpay received the RBI’s nod to operate as an online payment aggregator. Prior to that, BharatPe’s subsidiary to operate as an online PA.

In March, to operate as a cross border payment aggregator. Payments solutions provider to operate as a PA in February.

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