RBI shows flexibility on fintech payment licence clearances in 2025

The Reserve Bank of India has stepped up regulatory approvals for fintech companies over the past year, and it has issued multiple payment related licences to a wider set of firms, with several securing full stack authorisation across categories in 2025.

In recent months, RBI approved online, offline and cross border payment aggregation for around half a dozen companies. These include Paytm, Razorpay, Easebuzz, PayU, Pine Labs and Airpay. With these clearances, the firms are authorised to offer a full stack of payment aggregator services across…