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Ambani's Jio Payment Solutions gets RBI nod to operate as online payment aggregatorJio Financial was spun out of the Ambani-led Reliance Group last year.
Reuters
Last Updated IST
<div class="paragraphs"><p> People stand next to a logo of Jio Financial Services. (Representative image)</p></div>

People stand next to a logo of Jio Financial Services. (Representative image)

Credit: Reuters Photo 

Mumbai: Jio Payment Solutions, a wholly-owned subsidiary of billionaire Mukesh Ambani-led Reliance Group firm Jio Financial Services, has received the Reserve Bank of India's approval to operate as an online payment aggregator, Jio Financial said on Tuesday.

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A payment aggregator is a third-party service provider that enables customers to make and businesses to accept payments online. Payment aggregators enable their clients to accept various payment methods such as debit cards, credit cards, cardless easy monthly installments, United Payments Interface transfers, bank transfers, e-wallets, and e-mandates.

The approval is effective October 28.

Jio Financial was spun out of the Ambani-led Reliance Group last year.

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(Published 29 October 2024, 15:56 IST)