RBI has granted in-principle authorisation to RNFI Services to operate as a Payment Aggregator-Physical (PA-P). This will enable the company to expand into offline and in-store payments.
The approval adds another regulated payments capability to RNFI Services’ existing financial services portfolio, which already includes money movement, mutual fund distribution, insurance broking and prepaid payment instruments.
This development matters for taxpayers, merchants, investors, and regulators as RNFI expands its payments footprint within a regulated framework.
- Expanded in-person payment acceptance for RNFI’s clients and merchants
- Potential for broader revenue streams within regulated payments
- Greater oversight and regulatory alignment as a payment aggregator
