Tata Group’s digital payments app, Tata Payments, has been given a payment aggregator (PA) license by the Reserve Bank of India (RBI). This license will enable the firm to process e-commerce transactions on its platform. The company that runs the group’s digital businesses, Tata Digital, is in charge of organizing Tata Payments.
To obtain the eagerly anticipated payment license.
Tata Pay has teamed up with Razorpay, Cashfree, Google Pay, and other businesses. According to the data, “With the payment aggregator license, Tata can empower all e-commerce transactions within its subsidiaries, which will help it manage funds better.”
In addition to Tata Pay,
the identity verification startup Digio, based in Bengaluru and supported by Groww, an investment platform, has also obtained a PA license by January 1. Digio will be able to package in-payment services and power digital identity for numerous fintechs.
Which payment apps are on the market right now?
There are a lot of payment applications accessible right now in India; some of the more well-known ones are:
Google Pay: Google developed Google Pay, an app for an Indian digital payment system. In India, this payment app is among the most popular ones. Online and offline payments can be made with Google Pay.
PhonePe: Flipkart developed the PhonePe app, which is an Indian digital payment system. In India, this app ranks as the second most popular payment app. Payments can be made online and offline with PhonePe.
Paytm: Created by Paytm, Paytm is an app for an Indian digital payment system. In India, this app ranks third in terms of usage for payment apps. You can use Paytm to make payments both online and offline.
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