Google and Amazon get payment aggregation license in India

According to news in the afternoon of February 16, Beijing time, the Reserve Bank of India (RBI), the central bank of India, today released a list of 32 entities, allowing them to act as online payment aggregators.

These include Google Pay, Amazon Pay, Reliance Payment Solutions and so on. The Reserve Bank of India said on its website that the names were published to "spread information and ensure greater transparency".

Other approved entities include Zomato Payments., Pine Labs Pvt and Infibeam Avenues. The Reserve Bank of India also said that 18 other companies' applications are still being evaluated and that they can continue to operate as payment aggregators for the time being.

The payment aggregation license allows the relevant entity to process a large number of payments involving payment settlement. According to the requirements of the Reserve Bank of India, companies engaged in related business must apply for a license.