PayU has received in-principle approval from the Reserve Bank of India(RBI) to operate as a payment operator or payment app after 15 months of waiting. With this it can now onboard new merchants on its platform to provide them with digital platform service.

About PayU

PayU is the private lmt. Company in India’s digital financial service sector. It’s a Netherland-based company established in 2002, that enables businesses to collect online and offline payments across 150+ payment modes such as Debit cards, credit cards, EMI, net banking, etc. Similarly, the payment gateway also offers buy-now-pay-later services. It is backed by Prosus and competes with the Tiger Global-backed Razorpay and Walmart-owned PhonePe.

Highlights:
1. Accepts payments for all online platforms on your website or app. Therefore, It also accepts international payments.

2. Manages payment forms as a single dashboard it includes refunds, optimizes payment experience on mobile phones, and automates payouts to vendors.

3. It supports affordable payment by enabling EMI, buy now pay later, and also provides loyalty points to the customers.

4. It provides a native payment experience on all payment modes.

5. Additionally,it collects payment from shareable payment links.

Moreover, Indian companies want to build a complete digital financial services platform using technology. In addition, this platform will help fulfill all the financial needs of customers, including those of e-commerce brands, banks, and consumers.

We have been granted in-principle approval by the Reserve Bank of India with regard to our online payments aggregation business. pic.twitter.com/s5He3opTdp

— PayU India (@PayUindia) April 23, 2024