CAMSPay receives RBI nod to operate as payment aggregator

CAMSPay receives RBI nod to operate as payment aggregator: CAMSPay has received in-principle approval from RBI to operate as a payment aggregator. It is a part of Chennai-based Computer Age Management Services (CAMS).

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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.