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Are you planning to provide payment aggregation services? If yes, you must secure a payment aggregator license in India. We are leading the industry with a 75% market share, the best in the industry.
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If you are an entrepreneur looking to tap into India’s rapidly growing digital payments ecosystem, obtaining a Payment Aggregator (PA) License is a crucial step. A payment aggregator license is an authorization granted by the Reserve Bank of India (RBI) that allows fintech companies and payment service providers to accept and process digital payments on behalf of merchants.
The payment aggregator license issued to payment aggregators or merchant aggregators enables them to facilitate online transactions among customers and merchant entities registered under the Companies Act of 2013. With a payment aggregator license, businesses can facilitate online transactions through multiple payment modes, including credit/debit cards, UPI, net banking, and digital wallets, all under one integrated platform.
Enables Collection & Processing of Merchant Payments
Ensures Compliance with RBI & Data Security Standards
Acts as an RBI-authorized Payment Facilitator
Creates New Growth Opportunities in e-commerce Sectors
Indian Payment Aggregator Market ($4.13 billion by 2033)
Rising Number of Smartphone Users
Get RBI authorization for a payment aggregator license to manage online payments and streamline transactions with Enterslice.
Before applying for the online payment aggregator license in India, businesses are required to adhere to the basic IT security measures, as discussed below:
The organization must conduct a comprehensive security risk assessment of its personnel, IT infrastructure, and business processes, along with reports presented to the Board.
Data security standards like PCI-DSS, PA-DSS, the latest encryption standards, and Transport Channel Security shall be put into practice for obtaining an aggregator payment license in India.
The organizations shall undertake detailed security assessments during the merchant onboarding process to ensure that the merchants follow these minimal baseline security controls.
The entities must ensure compliance with monthly reporting related to the security incidents or breaches in cardholders’ data within a time frame of 2-6 hours to RBI.
The entities, like banks and third-party aggregators, must quarterly submit their internal annual and external audit reports to the IT Committee established for the purpose.
The risk assessment must be conducted to identify the threat or vulnerability combinations and the likelihood of impact on the confidentiality, availability, or integrity of the business asset.
For administering an application system, the documented procedures must be approved by the application owner and must be kept up to date.
The resources must be trained with IT skills, and a periodic assessment of training requirements must be conducted for them.
The merchant aggregators use encryption algorithms that meet international standards and have been thoroughly tested and verified by recognized cryptographic experts.
Payment aggregators must ensure that all data is stored within infrastructure located in India and not under any foreign jurisdiction. They should also implement strong controls to prevent unauthorized access to this data.
When payment aggregators outsource any operations, the agreement must include a ‘right to audit’ clause, allowing them, their authorized agencies, or regulators to conduct security audits.
Payment applications must be developed in accordance with PA-DSS guidelines and must fully comply with the prescribed security standards. It should also verify the PCI-DSS compliance status of merchants during the onboarding process.
The payment aggregators must report any cybersecurity incidents to the regulator within 2 to 6 hours, along with a clear merchant agreement outlining the process & timeline for reporting security incidents.
The different types of payment aggregators that require authorization under the regulations laid by the Reserve Bank of India are as follows:
Bank payment aggregators are a type of payment aggregator directly operated by banks to help businesses accept online payments through multiple payment methods.
Third-party payment aggregators are non-bank entities that ensure the handling of all technical and operational work involved in processing payments from multiple methods.
Both the merchants and clients obtaining a payment aggregator license registration in India enjoy several benefits, as discussed below:
A payment aggregator acts as an intermediary, helping businesses to bridge the gap between merchants and clients by facilitating smooth payment collection and settlement.
Obtaining a payment aggregator license enables businesses to simplify online transactions by integrating multiple payment options into a single platform.
A payment aggregator license registration ensures efficient processing and completion of payment transactions, thereby reducing friction in online transactions.
Obtaining a payment aggregator license is a relatively straightforward process that helps competition and clients with more options for making payments.
A payment aggregator license registration facilitates the transfer of funds between clients and merchants, thereby playing an important role in creating a smooth settlement process.
Obtaining a payment aggregator license from the RBI significantly enhances regulatory trust and credibility, thereby increasing customer confidence and merchant partnerships.
Obtaining a payment aggregator license allows swift market entry for businesses, ultimately providing a competitive edge by allowing faster integration with merchants and payment networks.
Obtaining a payment aggregator license allows access to real-time reporting and analytics, helping businesses with valuable insights into their transactions and customer purchase behaviour.
Obtaining a payment aggregator license helps lower initial costs, expenses and enhances customer satisfaction, enabling business growth and important data analysis.
The process of obtaining a payment aggregator license involves compliance with several steps, as discussed below:
Before initiating the application process, the entities must understand the comprehensive regulatory framework governing payment aggregators in India.
The next step requires the applicant to incorporate your company and obtain a certificate of incorporation under the provisions of the Companies Act, 2013.
In the next step, the applicants must comply with the minimum capital requirement of Rs. 15 crores to Rs. 25 crores within three years from the date of obtaining the license.
Next, the applicants must prepare application documents, including Form A, a business plan, and other KYC documents needed for a payment aggregator license in India.
Once all the documents are collected, the application Form A must be duly filed, adhering to the instructions and guidelines as provided by the REBI.
Once your application is submitted, the RBI must conduct a regulatory review for any queries or requests for additional information.
Upon successful evaluation and satisfaction with all regulatory requirements, the RBI grants the payment aggregator license, authorizing entities to operate as a regulated payment intermediary in India.
The time required to obtain an RBI Payment Aggregator License typically takes around 4 to 6 months, depending on the completeness of documentation, compliance readiness, and the applicant’s technical infrastructure.
The first step of obtaining an RBI payment aggregator license starts with company incorporation, which usually takes around 2 to 3 weeks.
It typically takes around 3 to 4 weeks for the preparation of a business plan covering the payment flow, risk management framework, IT infrastructure, grievance redressal, and compliance policies.
It takes approximately 3 to 4 weeks to meet the minimum net worth requirement of Rs. 15 crores, increased to Rs. 25 crores within 3 years.
The timeline for preparation and submission of all required documents, including the application form, business plan, and other RBI-specified documents, takes around 3 to 4 weeks.
The RBI takes around 1 to 2 months for the evaluation of a company’s financial soundness, technical capability, and governance structure needed for obtaining a payment aggregator license in India.
Upon being satisfied with all compliance and readiness, the RBI takes around 5 to 6 weeks for the grant of a payment aggregator license in India.
The list of essential documents needed for obtaining a payment aggregator license in India is as follows:
On September 15, the RBI issued a new master direction titled RBI (Regulation of Payment Aggregators) Directions, 2025. This directive establishes a unified and comprehensive framework to regulate payment aggregators that facilitate digital transactions in India. These changes aim to bring clarity, consistency, and stronger regulatory oversight to India’s rapidly growing digital payment ecosystem. As per the latest RBI Master Direction on Regulation of Payment Aggregators, 2025, entities are classified into PA-Online, PA-Physical, and PA-Cross Border, ensuring better compliance and monitoring.
The new RBI guidelines also highlighted the formal classification of payment aggregators into three specific categories, based on the nature of their operations. Have a look at the following three categories of payment aggregator license, as provided below:
Payment Aggregators-Online (PA-O)
Payment Aggregators-Physical (PA-P)
Payment Aggregators-Cross Border (PA-CB)
A payment aggregator license issued by the RBI allows entities to facilitate digital payment processing for merchants, while ensuring security, transparency, and regulatory compliance. With a payment aggregator license, businesses can operate as intermediaries between customers and merchants, offering a unified platform that supports multiple payment modes.
Overall, this framework enables safer transactions, strengthens customer trust, and promotes a more inclusive digital payment ecosystem in India. Have a look at some of the key features that define the role and responsibility of a licensed payment aggregator:
The risks associated with obtaining a license for payment aggregator services in India are as discussed below:
Talk to Enterslice consultants, and let us help you overcome the challenges with minimum effort.
Any non-compliance with the regulations of the Payment and Settlement Systems (PSS) Act attracts several penalties outlined to regulate the conduct of payment aggregators in India:
The eligibility criteria for obtaining a payment aggregator license in India are as discussed below:
Checklist for Obtaining a Payment Aggregator License RBI
Who Requires a Payment Aggregator License from RBI?
The following is the list of mandatory post-licensing compliance for payment aggregators in India:
The difference between a payment aggregator and a payment gateway, both playing key roles in online payment processing, is as follows:
As a leading business consulting firm, Enterslice specializes in assisting businesses with obtaining various financial licenses in India. Choose our expert services to simplify and expedite the process of acquiring a payment aggregator license in India:
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