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Last year, the RBI returned the fintech firm’s application to operate as a payment aggregator due to its complex corporate structure and directed it to reapply. ....
Razorpay, Cashfree, PayGlocal, and new entrants rush for RBI s PA-CB licence to tap into lucrative B2B cross-border payments market. Fintechs eye big share of $250B SME exports, focusing on high margins and expanding services. ....
Software as a service startup Zoho also got the payment aggregator licence on February 2. Zoho is the first enterprise Saas player to get this nod from the RBI. ....
Total expenses for Cashfree more than doubled to Rs 750 crore during the year, mainly on account of employee costs jumping to Rs 198 crore from Rs 96 crore in the previous fiscal. ....