CAMSPay receives RBI nod to operate as payment aggregator

RBI further said that an entity not appearing in the Alert List should not assume that it is authorised by the RBI to deal in foreign exchange or can operate electronic trading platforms for forex transactions.

Registrar and transfer agent of mutual funds Computer Age Management Services Ltd (CAMS) on Wednesday said its payment platform CAMSPay, has received in-principal authorisation from the Reserve Bank of India to operate as a payment aggregator, the company said on Wednesday.

CAMSPAy, a payment platform specialising in solving banking and finance services sector's payment challenges has been supporting mutual fund investors, insurance policy holders and loan borrowers for over a decade in enabling them to move from paper-based mandate process to offering digital payment solutions.

CAMSPay, has received in-principle authorisation from Reserve Bank of India to operate as a 'Payment Aggregator," a bank statement said here.

"We are thrilled to receive the in-principle authorisation to operate as a payment aggregator to create a much more robust and inclusive digital payment stack for the chosen merchant segments that we operate in, delivering a variety of acceptance options," CAMSPay CEO Vasanth Jeyapaul said.

"The license will help us further fortify our offerings in the payments arena," he said.