Easebuzz Joins Razorpay, Google Pay in Securing RBI Nod as Online Payment Aggregator

Easebuzz has received the final Reserve Bank of India approval to operate as an online payment aggregator. The platform processes $30 billion in annual transactions and serves over 2 lakh businesses, including SMEs and startups.

Easebuzz Joins Leading Payment Providers with RBI Nod

Easebuzz has received final approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator (PA).

In 2022, the payment solutions provider had obtained in-principle approval for the PA license. With this authorisation, Easebuzz joins the ranks of companies like Razorpay, MSwipe, Google Pay, Cashfree, Zomato, CC Avenue, Innoviti Payments, which have also secured their PA licenses in the past two years.

The PA license permits companies to handle e-commerce transactions under the RBI’s regulation, offer early settlements to select merchants based on business volumes, and provide credit in the form of term loans in partnership with non-banking financial companies (NBFCs) and banks.

Rohit Prasad, the managing director and CEO of Easebuzz, expressed that the final authorization marks a significant milestone for the company, underscoring its commitment to delivering secure and compliant digital payment solutions.

Financial Performance and New Ventures

Easebuzz’s platform processes an annualised gross transaction value (GTV) of $30 billion and serves over two lakh businesses, including small and medium enterprises (SMEs) and startups.

In the fiscal year ending March 2024, Easebuzz recorded a revenue of ₹290 crore and is on track to surpass ₹600 crore in FY25. Meanwhile, in April 2024, fintech firm Cred received in-principle approval from the RBI for the PA business, as per news report. The company recently entered the business-to-business (B2B) payments space and launched an invoice management and payments platform in collaboration with NPCI Bharat BillPay Ltd (NBBL).

It has been certified as a Biller Operating Unit (BOU) on the Bharat Bill Payment System (BBPS).

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