Easebuzz secures RBI nod to operate as online payment aggregator

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

Easebuzz had received in-principle approval for the PA licence in 2022.

Companies like Razorpay, MSwipe, Google Pay, Cashfree, Zomato, CC Avenue, Innoviti Payments, Vegaah, and Concerto Software and Systems, have already secured the PA licence over the past two years.


“The final authorisation from the Reserve Bank of India to operate as an online payment aggregator is a significant milestone for us and it stands as a testament to Easebuzz’s adherence to building safe, secure and compliant digital payment solutions,” said Rohit Prasad, managing director and CEO of Easebuzz.

Easebuzz claims its payments platform is processing an annualised gross transaction value (GTV) of $30 billion and serving more than two lakh businesses, including small and medium enterprises (SMEs) and startups.

In 2022, the RBI barred payment aggregators such as Paytm, Razorpay, Cashfree, and PayU from onboarding new merchants but later began lifting the restrictions.

Also Read: After a year of regulatory ban, Razorpay, Cashfree secure RBI nod for payment aggregator business

A PA licence allows companies to settle ecommerce transactions, while bringing them under RBI regulations. PAs can also offer early settlements to select merchants based on their business volumes -- a form of credit -- and provide term loans by partnering with NBFCs and banks.

Easebuzz is also expanding its digital offerings to become a full-stack financial operating system. Recently, it entered the business-to-business (B2B) payments space and launched an invoice management and payments platform in partnership with NPCI Bharat BillPay Ltd (NBBL).

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

In the fiscal year ending March 2024, Easebuzz recorded revenue of Rs 290 crore and expects to surpass Rs 600 crore in FY25.

In April 2024, fintech firm Cred received in-principle approval from RBI for the PA business, ET reported.