Approval Sealed: Razorpay, Cashfree Cleared by RBI for Aggregation

On Tuesday, digital payment startups Cashfree and Razorpay declared that the Reserve Bank of India (RBI) had granted them final permission to function as payments aggregators (PA). RBI has now granted Razorpay final authorization to function as a Payment Aggregator (PA) in accordance with the Payment Settlements Act, 2007.