PayU has finally received RBI's approval to operate as a Payment Aggregator (PA). This approval, in line with the Payment Settlements Act, 2007, allows Payu to begin onboarding new merchants onto its platform. The RBI had previously rejected PayU's application in January 2023 due to its complex corporate structure, prompting the firm to reapply. Anirban Mukherjee, CEO of PayU, views this license as crucial in their mission to establish a globally recognized digital payment infrastructure based in India.