PhonePe gets RBI nod to operate as online payment aggregator
Fintech company PhonePe has received the final authorisation from the Reserve Bank of India (RBI) to function as an online payment aggregator, the firm said in a statement on Friday. The RBI's approval will allow PhonePe to onboard and service online merchants, with a stated focus on small and medium enterprises (SMEs). PhonePe currently has over 650 million registered users.