A payment aggregator provides payment services to merchants and e-commerce sites by accepting payment instruments from customers. It is different from payment gateways which provide technology services for processing transactions but don’t handle funds
Other players who have received the RBI's in-principal approval for the licence include Razorpay, Pine Labs, Innoviti, Easebuzz, Stripe, MSwipe, NTT Data Payment Services, and 1Pay Mobileware
The company which provides payment gateway and payment acceptance services has also received in-principle approval for a Prepaid Payment Instrument (PPI) license from the Reserve Bank of India (RBI).
Other players who have received RBI's in-principal approval for the license include Razorpay, Pine Labs, Innoviti, Easebuzz, Stripe, MSwipe, and 1Pay Mobileware.
Easebuzz joins companies such as Razorpay, Stripe, Pine Labs and MSwipe that have received in-principle approval for the license.
MSwipe received in-principle approval from the Reserve Bank of India (RBI) for the payment aggregator license on August 8. The company also cross-sells loans to merchants.