PhonePe gets RBI nod to operate as 'online payment aggregator'

Digital payments platform PhonePe on Friday announced that it has received the final authorization from the Reserve Bank of India (RBI) to operate as an online payment aggregator.

Speaking on RBI's approval, Yuvraj Singh Shekhawat, CBO Merchant Business said, "With this authorization, PhonePe is well-positioned to accelerate financial inclusion by providing accessible payment solutions to businesses that were previously underserved, particularly in the SME segment."

The company believes that this development positions it to serve a broader spectrum of enterprises seeking reliable and secure payment processing solutions.


"The company's focus on serving both established enterprises and emerging businesses aligns with its goal of enabling broader digital financial inclusion," Shekhawat added.

PhonePe's flagship product, the PhonePe digital payments app, was launched in August 2016. As of August 2025, it has over 65 crore (650+ million) registered users and a digital payments acceptance network spread across over 4.5 Crore (45+ million) merchants. PhonePe also processes over 36 crore (360+ million) transactions daily with an Annualized Total Payment Value (TPV) of over INR 150 lakh crore.