Pluxee India Gets RBI Payment Aggregator Authorisation
Why in the news
The Reserve Bank of India cleared Pluxee India to work as a payment aggregator, widening its role in the payments chain.
Key facts
- Authorisation: Payment Aggregator for both online (PA-O) and physical (PA-P) transactions.
- Permitted functions: onboarding merchants, collecting payments, settling funds and managing refunds.
- Payment modes it can support: cards, QR codes, NFC-based payments and online payments.
- Existing licence: Prepaid Payment Instrument (PPI), issued in 2009.
Exam angle
- Regulator: RBI.
- Abbreviations: PA-O for online, PA-P for physical.
- Earlier licence held: PPI, from 2009.