PhonePe Receives Final RBI Authorization to Operate as an Online Payment Aggregator

September 19th, 2025, Bangalore: PhonePe, today, announced that it has received the final authorization from the Reserve Bank of India (RBI) to operate as an online payment aggregator. The RBI authorization enables PhonePe to expand its reach and tap into online merchants, with a particular focus on small and medium businesses (SMEs) across the country. We believe that this development positions the company to serve a broader spectrum of enterprises seeking reliable and secure payment processing solutions.

Speaking on the occasion, Yuvraj Singh Shekhawat, CBO Merchant Business at PhonePe said, “With this authorization, PhonePe is well-positioned to accelerate financial inclusion by providing accessible payment solutions to businesses that were previously underserved, particularly in the SME segment. The company’s focus on serving both established enterprises and emerging businesses aligns with its goal of enabling broader digital financial inclusion.”

PhonePe’s payment gateway offers businesses of all sizes with a reliable and secure platform to accept payments from their customers and offers a smooth and hassle-free checkout experience. The platform’s instant onboarding and access to developer-friendly applications and plug-ins allow businesses to onboard in a fast and hassle-free manner and are designed to increase payment success rates for merchants, thus enabling them to grow their businesses. 

About PhonePe:

PhonePe Limited (Formerly PhonePe Private Limited) is one of India’s leading fintech companies. Headquartered in India, its flagship product, the PhonePe digital payments app, was launched in Aug 2016. As of August 2025, PhonePe has over 65 Crore (650+ Million) registered users and a digital payments acceptance network spread across over 4.5 Crore (45+ million) merchants. PhonePe also processes over 36 Crore (360+ Million) transactions daily with an Annualized Total Payment Value (TPV) of over INR 150 lakh crore.

PhonePe’s portfolio of businesses includes the distribution of financial products  (Insurance, Lending, and Wealth) as well as new consumer tech businesses (Pincode – hyperlocal e-commerce and Indus AppStore – Localized App Store for the Android ecosystem) in India, which are aligned with the company’s vision to offer every Indian an equal opportunity to accelerate their progress by unlocking the flow of money and access to services.

 For more details, contact: [email protected]