IPO-Bound PayU Gets Final Nod To Operate As Payment Aggregator

PayU, a prominent fintech company backed by Naspers, has received the final authorization for its payment aggregator license from the Reserve Bank of India (RBI). This crucial regulatory approval removes a significant hurdle that had been pending ahead of PayU's planned ₹5,000 crore initial public offering (IPO). The license strengthens PayU's competitive standing in India's rapidly expanding digital payments market, where it competes with other major players like Razorpay and Pine Labs for market share and transaction volume.