BharatPe Gets Green Signal From RBI For Online Payment Aggregator License

BharatPe Group has received regulatory approval for its wholly owned subsidiary, Resilient Payments Private Limited, by the Reserve Bank of India (RBI) to function as a licensed online Payment Aggregator (PA). This approval marks a significant milestone for the fintech major, positioning it among selected Indian companies holding three strategic financial licenses.

With this latest consent, BharatPe now holds three key financial licenses: a Payment Aggregator license (via Resilient Payments), a Non-Banking Financial Company (NBFC) license, and a stake in Unity Small Finance Bank (SFB). This unique combination gives BharatPe a solid regulatory foundation to expand its presence in India’s fast-growing fintech space.

The company will soon launch Resilient Payments under the new name, 'BharatPe X'. The newly branded platform will focus on scaling up digital payment solutions, developing a robust technology infrastructure, and provide value-added services to vendors, while focusing on India’s tier 2 and tier 3 cities.

Payment Aggregators bridge the gap between merchants and customers by making digital payments smooth and easy. They work with different banks and payment systems to process transactions. The RBI introduced a licensing system for these companies to bring transparency, security, and reliability to the online payments.

At BharatPe, the firm targets Indian merchants as a mission. It fosters millions of small businesses across the country and provides them with a reliable financing partner, depending on their unique business needs, with customized solutions. It has evolved into a one-stop fintech destination, empowering businesses with a wide range of user-friendly, secure, and dependable financial products, and also offers services like loans, insurance, and business insights to help merchants grow, according to media reports. With BharatPe X, the company is strengthening its focus on supporting small and medium businesses. The company reflects its commitment to innovating and delivering value in the fintech sector across the country.

This strategic move is significant as India’s fintech ecosystem is evolving rapidly, while the government is employing greater regulatory scrutiny to establish transparency, which is a requirement in the finance sector.

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