Zoho, Juspay, Decentro latest to serve as payment aggregators

It's exciting news that Juspay, Decentro, and Zoho have received the final authorization from the RBI to operate as payment aggregators. This is a significant development for both the companies and the Indian payments industry.

A payments aggregator, or PA, licence allows companies to provide payment services to merchants (online businesses or e-commerce firms) by accepting payment instruments from customers. As part of the process, PAs pool the funds received from customers and transfer them to merchants after a certain time period.

They will join the likes of Zomato, Razorpay, Cahfree, Nium, Stripe, Tata Payments and PayU among others in the league. This is a significant development for several reasons:

● Zoho: This makes them the first enterprise SaaS player to be granted a payment aggregator license by the RBI. This opens up new opportunities for them to integrate payment solutions into their existing software offerings.

● Decentro: Decentro allows neo-banks, marketplaces, and fintechs to integrate and offer banking solutions via its APIs, while Juspay operates as a full-stack payment gateway that can offer card, wallet and UPI-based transactions.

● Juspay : Juspay is India's payments operating system that unifies payment gateways , enterprise-grade payment stack to achieve higher revenue at lower cost and offers a suite of products and solutions for online payments.

The entry of new players will increase competition in the payments space, potentially leading to lower fees and better services for merchants and consumers. The new entrants often bring innovative solutions to the market, which can benefit the entire ecosystem.

The RBI is tightening regulations for payment aggregators. This could pose challenges for new entrants as they navigate the regulatory landscape.

Overall, this is a positive development for the Indian payments industry. It is likely to lead to increased competition, innovation, and ultimately, better services for everyone involved.