IPO-Bound PhonePe Gets Final Nod To Operate As Payment Aggregator

PhonePe has received the final authorisation from the Reserve Bank of India (RBI) to operate as an online payment aggregator

The development comes over two years after PhonePe received in-principle approval from the RBI in August 2023 to operate as an online payment aggregator

The authorisation will enable PhonePe to expand its reach among online merchants, with a particular focus on small and medium businesses (SMEs) across the country

Walmart-owned fintech PhonePe has received the final authorisation from the…