India, May 13 -- Prosus-owned payment solutions major PayU India has received the final authorisation from the Reserve Bank of India (RBI) to operate as a payment aggregator (PA).

"We are pleased to share that PayU Payments Pvt. Ltd. has received final authorization from the RBI to operate as an online payment aggregator under the Payment and Settlement Systems Act, 2007. We are deeply grateful to the RBI for the trust placed in us and for the opportunity to contribute responsibly to India's dynamic payments ecosystem," a PayU spokesperson said in a statement.

The company said that the central bank's nod will allow it to build a "resilient, compliant, inclusive, and innovation-led institution", "empower" merchants of all sizes and "play...