Hitachi Payment, BharatPe get RBI nod to operate as payment aggregators

In-principle approval takes firms closer to offering to digital financial services to clients

Hitachi Payment Services and BharatPe have received in-principle authorisation from the Reserve Bank of India (RBI) to operate as payment aggregators, said the companies on Tuesday.
 
Hitachi, as a payment aggregator, will be able to provide its business-to-business (B2B) customers with digital payment products and value-added services such as EMI, PayLater, BBPS, and loyalty solutions.
 
BharatPe would be able to widen its reach and provide digital payment acceptance solutions.
 
Payment aggregators facilitate e-commerce sites and merchants to accept payment instruments from customers. They facilitate merchants to connect with acquirers.
 
Fintech firms such as Razorpay, PineLabs, Stripe,