India’s apex bank grants in-principle approval to Worldline ePayments India’s payment aggregator licence. Credit: InspiredImages from Pixabay.

Digital payments firm Worldline ePayments India has secured an in-principle approval from the Reserve Bank of India (RBI) to operate as a payment aggregator (PA) in the country.

The approval was granted as per the provisions of Guidelines on Regulation of Payment Aggregators and Payment Gateways that was issued in 17 March, 2020.

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A subsidiary of French payments firm Worldline group, Worldline ePayments India currently provides its customers with various payment solutions, including in-store, online, and omnichannel payments tools.

Worldline India CEO Ramesh Narasimhan said: “We’ve been in the Indian market for more than two decades and have built a leadership position.

“We work with merchants from various segments such as eCommerce, BFSI, Retail, Utilities, Education, Travel and Hospitality for digital payments.

“The in-principle authorisation from RBI is a testimony to our commitment towards building a digital payment ecosystem in India.”

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Narasimhan also added that RBI’s new regulations and frameworks for the entire digital ecosystem help in the increased adoption of digital payments by various end-users.

In September this year, RBI authorised payment service firm NTT DATA Payment Services India to function as a payment aggregator.

The in-principle approval was given for a PA licence submitted by NTT DATA Payment Services India.

A host of omnichannel payment providers, including Paytm, Pine Labs, Innoviti, MSwipe, Razorpay, Stripe and others have also received the apex bank’s nod for their PA licences.