Mumbai: The Reserve Bank of India (RBI) has awarded payment aggregator (PA) licence to Tata Payments, media reported.
The licence will allow the digital payments app of the Tata group to facilitate e-commerce transactions through its platform, according to an Economic Times report.
Tata Payments is a part of Tata Digital, a subsidiary of the Tata Group dedicated to its digital businesses.
With this licence, Tata Pay joins other entities like Razorpay, Cashfree, and Google Pay that have successfully obtained the awaited payments license, the report said.
As of January 1, along with Tata Pay, the Bengaluru-based identity verification startup DigiO, backed by the investment platform Groww, has also obtained the Payment Aggregator (PA) licence, it added.
DigiO, which provides digital identification services to various fintech firms, will now have the capability to integrate in-payment services alongside its existing offerings.
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