Aurionpro Payments Gets RBI Approval To Operate As Payment Aggregator

Aurionpro Payment Solutions Ltd (AuroPro), on Friday, received in-principle approval from the Reserve Bank of India (RBI) to operate as payment aggregator under the Payment and Settlement Act, 2007. AuroPay can commence payment aggregator business upon receiving the final certificate of authorisation from RBI. 

"We are extremely delighted to receive the in-principle approval from RBI to operate as a payment aggregator. This is a substantial stride forward in our mission to facilitate seamless online digital payments in the country, especially in the area of B2B payments," said Balkrishna Pangam, chief executive officer (CEO) at Aurionpro Payment.

APSL is founded by Aurionpro Solutions Ltd which offers solutions in the fintech space.

"Our platform 'AuroPay' seeks to offer a bouquet of e-payment options which are safe, secure, user-friendly and affordable. The aim is to become a one-stop shop, offering a wide range of services in the payment ecosystem globally, catering to e-commerce businesses as well as SMEs which are rapidly adopting digital technologies," the company said. 

The licence to operate as a payment aggregator allows entities to accept payments made on e-commerce sites and merchants. They receive payments from customers, pool them and then transfer them to merchants after a period, saving them the hassle of creating their own payments system. 

On Friday, Aurionpro Solutions Ltd closed 5.4 per cent in the green at Rs 454 per share on BSE.