Apr 9, 2025

BharatPe secures RBI nod to operate as online payment aggregator SECTIONS ETtech Rate Story Synopsis The final nod to Resilient Payments comes more than two years after it received an in-principle approval from the RBI, in January 2023. A PA licence allows companies to settle ecommerce transactions while bringing them under RBI regulation. ETtech Nalin Negi, chief executive officer, BharatPe The Reserve Bank of India has granted a final authorisation to Resilient Payments, a BharatPe Group company, to operate as an online payment aggregator (PA). The company said it will launch its online PA platform under the brand name ‘ BharatPe X ’. A PA licence allows companies to settle ecommerce transactions while bringing them under RBI regulation. Payment aggregators can also offer early settlements to select merchants—a form of short-term credit—and partner with NBFCs and banks to provide term loans. The final nod to Resilient Payments comes more than two years after it received an in-principle approval from the RBI, in January 2023. The company said it plans to scale up its payment solutions across a broader merchant base, deepen its presence in tier 2 and 3 cities, and invest in building advanced technology infrastructure. Live Events Companies such as Easebuzz, Razorpay, MSwipe, Google Pay, Cashfree, Zomato , CC Avenue, Innoviti Payments, Vegaah, and Concerto Software and Systems, have secured a PA licence over the past two years. Discover the stories of your interest “This final authorisation is not just a milestone, but a responsibility we take seriously. It speaks to the strength of the governance practices and operational frameworks we’ve put in place over the years,” said Nalin Negi, CEO of BharatPe. In 2022, the RBI restricted several payment aggregators, including Paytm, Razorpay, Cashfree, and PayU, from onboarding new merchants, though those restrictions have since started to ease. Founded in 2018, BharatPe currently operates in more than 450 cities with a merchant network of over 1.3 crore. It processes over 450 million UPI transactions each month, with an annualised transaction value of more than Rs 1.7 lakh crore. Through its lending arm, BharatPe Money, the company says it has disbursed loans worth over Rs 18,000 crore in partnership with NBFCs. The company has also expanded into offering secured lending products such as loans against mutual funds, two-wheeler loans, and home loans. “We're looking to broaden our footprint across high-potential markets, enhance our product suite, and bring more innovation to how businesses accept and manage digital payments,” said Sandeep Indurkar, CEO of Resilient Payments. “The focus now is on execution—building with intent, speed, and reliability.” BharatPe has raised more than $580 million in equity, from investors such as Peak XV Partners, Ribbit Capital, Insight Partners, and Tiger Global. Last April, ET had reported that fintech company Cred had received in-principle approval from the RBI for the PA business. Read More News on