Jio Financial Services arm receives approval from RBI to operate as an online payment aggregator, stock up 2%

Jio Financial Services’ arm has received approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator. This approval allows the company to provide payment aggregation services, enabling merchants to accept various payment methods through a single platform. The move is expected to enhance Jio Financial Services’ capabilities in the digital payments space and support its growth strategy. The company plans to leverage its technological infrastructure and customer base to offer innovative payment solutions. The approval from RBI underscores the regulatory support for digital payment services and highlights the growing importance of fintech in the financial ecosystem.