PhonePe Decides To Exit Account Aggregator Business

“We have decided to surrender our NBFC-AA licence to the RBI, and initiated the wind down of our AA operations,” said PhonePe in a statement

The company cited its inability to onboard a sufficient number of financial information providers (FIPs) to its platform

PhonePe will be partnering with other AAs in the market to bolster financial inclusion.

Fintech major PhonePe has decided to exit its Account Aggregator (AA) business and will be partnering with other AAs in the market. 

“We have decided to surrender…