Aurionpro Solutions’ AuroPay gets RBI’s in-principle approval for payment aggregation
Aurionpro Solutions said that its subsidiary Aurionpro Payment Solutions (AuroPay) has secured in-principle approval from the Reserve Bank of India (RBI) to operate as a payment aggregator.
The in-principle approval has been granted under the Payment and Settlement Act, 2007 and following receipt of the RBI’s final Certificate of Authorization, AuroPay can begin its payment aggregator business.
With the key milestone achieved, AuroPay continues to be on track to introduce its payment services in the Indian market, said Aurionpro Solutions.
Balkrishna Pangam – Aurionpro Payments CEO said: “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. This approval reinforces our commitment to becoming a trusted partner to businesses as we present AuroPay as an innovative technology payment platform.”
Aurionpro Solutions, which is a Mumbai-based technology products and solutions provider, launched the AuroPay payment platform in September 2021 to expand its footprint in the payment business.