Worldline ePayments India Gets RBI’s Nod to Act as Payment Aggregator

Worldline ePayments India Gets RBI’s Nod to Act as Payment Aggregator: The Reserve Bank of India (RBI) has granted in-principle authorization to Worldline ePayments India (WEIPL), a pioneer in digital payments, to function as a payment aggregator (PA). The RBI’s authorization was granted in accordance with the March 17, 2020, edition of the Payment Regulation Guidelines.

December 2022 Current Affairs Quiz

About The Worldline ePayments India (WEIPL):

Worldline ePayments India, part of Worldline group, offers solutions for all sorts of payment needs offering in-store, online, and omnichannel payments to its customers.

About Payment Aggregators and Payment Gateways:

Payment Aggregators facilitate e-commerce sites and merchants in accepting payment instruments from the customers for completion of their payment obligations without the need for merchants to create a separate payment integration system of their own. Example: Billdesk.

Payment Gateways are entities that provide technology infrastructure to route and facilitate processing of an online payment transaction without any involvement in handling of funds. In India, banks are the majority of PGs. A Payment Gateway allows the merchants to deal in a specific payment option put on the portal, whereas a Payment Aggregator allows one to have multitudes of options for payment. Thus, a Payment Aggregator covers a payment gateway in its ambit.