RBI and FEMA

How do I check if a payment aggregator is authorised by RBI?

Author:: Editorial team, serviceexportguide.com
Verified by:: Editorial team
Published: 28 October 2026
Last modified: 30 October 2026
Reading time: 6 min read

Short answer

You check a payment aggregator by searching its Indian legal entity name on RBI's Certificates of Authorisation page under the Payment and Settlement Systems Act, 2007.¹ For export receipts, the category must include PA-CB-I or PA-CB-I & O.¹ RBI's Status of Applications page shows pending, in-principle and returned applications.² In-principle approval is not authorisation.²

Applies to	Governed by	Deadline	Penalty	Last verified
Non-bank payment aggregators, including cross-border (PA-CB) providers¹³	Payment and Settlement Systems Act, 2007, section 7; RBI Master Direction on Regulation of Payment Aggregator, 15 September 2025²³	Not applicable	New PAs cannot commence operations until authorised²	28 October 2026

Before an Indian exporter routes client payments through a payment aggregator, it is worth five minutes to confirm the company is authorised by the Reserve Bank of India (RBI). A video editor taking card payments from YouTube creators abroad, or an online tutor collecting fees from students in the Gulf, is trusting that company to hold the money and pass it on. RBI publishes the information needed to check; this page shows where to look and how to read it.

What does RBI authorisation of a payment aggregator mean?

RBI authorisation of a payment aggregator means the entity appears on RBI's page of Certificates of Authorisation under the Payment and Settlement Systems Act, 2007, with the payment system it may operate, such as PA-O, PA-P or PA-CB.¹ Two RBI pages matter.¹²

Page	What it shows	Best for
Certificates of Authorisation under the Payment and Settlement Systems Act, 2007	Entities RBI has authorised, with the payment system each may operate, including PA-O, PA-P and PA-CB	Confirming a provider is authorised
Status of Applications received under the Payment and Settlement Systems Act, 2007	Applications under process, in-principle approvals, and applications returned, withdrawn or refused	Checking a provider missing from the first list

Both were checked on 28 October 2026; the status page was dated "as on 16.10.2026".¹²

Who needs RBI payment aggregator authorisation?

Non-bank payment aggregators need RBI authorisation, while banks do not need RBI authorisation to carry on payment aggregator business.³ A provider can therefore be lawful without its own PA authorisation.³

Entity type	Needs PA authorisation?	Why	Best for
Non-bank payment aggregator handling cross-border receipts	Yes	Must appear with a PA-CB category on RBI's list¹	Checking on the authorisation page
Bank	No	Banks do not need RBI authorisation to carry on PA business³	Checking Authorised Dealer status instead
Card payment where the card network handles foreign exchange settlement and the aggregator receives local currency	No PA-CB activity	Such a payment is not PA-CB activity³	Checking the domestic PA authorisation
Provider working through a partner bank or an authorised aggregator	Depends on the partner	The regulated Indian entity that receives and settles your money is the one to check	Asking the provider which entity settles funds

In those cases, ask the provider which regulated Indian entity receives and settles your money, and check that entity instead.

How do you check if a payment aggregator is authorised by RBI?

You check a payment aggregator by finding its Indian legal entity name and searching for it on RBI's authorisation list, then reading its category.¹

Find the Indian legal entity. Look in the provider's terms of service, privacy policy, invoice or settlement advice for a name ending "Private Limited" or "Limited". The brand you see on the checkout page may differ.
Open RBI's authorisation list and use your browser's find function (Ctrl+F or Cmd+F) to search for that legal name, then for the brand.¹
Read the category. In the section "Payment Aggregators (PA-O, PA-P & PA-CB)", each entity shows one or more codes.¹ For export receipts you need PA-CB-I or PA-CB-I & O.¹
Note the date and remarks. The list shows a date of issue and sometimes a validity period in brackets.¹
If the name is missing, open the status page. It shows whether the entity has applied, holds in-principle approval, or had its application returned or refused.²
Check the cancelled sections. The authorisation page also lists revoked authorisations, ceased operations and voluntarily surrendered authorisations.¹
Save a screenshot with the date. The pages change, so keep evidence of what you saw and when.

What do the RBI payment aggregator category codes mean?

RBI's payment aggregator category codes describe whether an entity handles online, physical or cross-border payments, and RBI's footnote to the payment aggregator section defines them.¹

Code	Meaning	Useful for an exporter receiving money?	Best for
PA-O	Payment Aggregator, Online (domestic)	Not for cross-border receipts by itself	Domestic online payments
PA-P	Payment Aggregator, Physical	No	In-person payments
PA-CB-I	Cross Border, Inward transactions	Yes	Exporters receiving money from abroad
PA-CB-O	Cross Border, Outward transactions	No (payments out of India)	Importers paying abroad
PA-CB-I & O	Cross Border, Inward and Outward	Yes	Businesses both receiving and paying abroad

How do you read RBI's Status of Applications page?

RBI's Status of Applications page sorts applicants into tables. For cross-border aggregators as on 16 October 2026: Table D lists existing PAs-CB which "can operate", Table E lists new PAs-CB whose applications are under process and which "cannot operate", and Table F lists PA-CB applications returned, withdrawn or refused, which "cannot operate".²

RBI's notes on that page set three rules:²

Existing PAs: those that applied within the stipulated timelines can continue business unless RBI advises otherwise.
New PAs: cannot commence operations until granted authorisation under section 7 of the Payment and Settlement Systems Act, 2007.²
In-principle authorisation: is not authorisation.

What happens if a payment aggregator's RBI authorisation is cancelled?

A payment aggregator's RBI authorisation can be cancelled, and RBI shows this on the same page in separate sections for authorisations revoked by RBI, entities whose operations have ceased, authorisations cancelled on voluntary surrender, and authorisations cancelled or under cancellation as per regulatory requirement.¹

For example, the voluntary surrender section shows payment aggregator (PA-O) authorisations of Groww Pay Services Private Limited cancelled on 6 January 2026, Tata Payments Limited on 3 July 2026 and Hitachi Payment Services Private Limited on 31 August 2026.¹ A provider that was authorised when you signed up may not be authorised today, so repeat the check from time to time, for example once a year or before moving a large client to it.

Which RBI rules govern payment aggregator authorisation?

Payment aggregator authorisation is governed by section 7 of the Payment and Settlement Systems Act, 2007 and RBI's Master Direction on Regulation of Payment Aggregator dated 15 September 2025.²³

Rule	Clause	Date	Plain meaning	Best for
Payment and Settlement Systems Act, 2007²	Section 7	Not applicable	New PAs cannot commence operations until authorised under this section	Checking new providers
RBI Master Direction on Regulation of Payment Aggregator³	Paragraphs 4, 5, 8 and 10	15 September 2025	Sets who needs authorisation and what a PA must display and provide	Understanding a PA's duties
RBI Status of Applications notes²	Notes to the tables	As on 16 October 2026	In-principle authorisation is not authorisation	Reading pending applications

What else should an exporter check besides a payment aggregator's licence?

Besides a payment aggregator's licence, an exporter should check whether the service suits its business, because authorisation tells you only that RBI has allowed the company to operate. RBI also requires a PA to:

Policies: display its merchant policies, privacy policy and terms on its website or app.³
Contacts: display the officer responsible for merchant issues and an escalation matrix.³
Disputes: have a dispute resolution mechanism with refund timelines.³

Then compare providers on the same criteria: fees as published, FIRA or equivalent, purpose code handling, settlement time, limits and who can sign up. See the PA-CB licence list for a dated snapshot and export payment fraud for warning signs.

What are the common mistakes when checking a payment aggregator's RBI authorisation?

The common mistakes when checking a payment aggregator's RBI authorisation are searching only the brand name, treating in-principle approval as authorisation, and missing the category code.¹²

Brand-only search: RBI lists the legal name and sometimes a brand next to it.¹
In-principle approval: RBI's status page says it is not authorisation.²
Wrong category: PA-O alone does not cover cross-border receipts; look for PA-CB-I or PA-CB-I & O.¹
Never rechecking: authorisations can be revoked, ceased or surrendered.¹
No record: the pages change, so keep a dated screenshot.

Note: If a company claims to be "RBI approved" but you cannot find its legal name on either RBI page, ask it for the exact entity and authorisation reference before sending any client to it.

How did we verify this?

We checked this page against the sources below on 30 October 2026. Read our methodology or report an error.

Frequently asked questions

Where is RBI's list of authorised payment aggregators?+

RBI's list of authorised payment aggregators is on its page of Certificates of Authorisation issued under the Payment and Settlement Systems Act, 2007, in the section 'Payment Aggregators (PA-O, PA-P & PA-CB)'.¹ The same page lists revoked, ceased and surrendered authorisations, so read those sections too before relying on a provider.

Does in-principle authorisation mean a payment aggregator is licensed?+

In-principle authorisation does not mean a payment aggregator is licensed. RBI's status page says grant of in-principle authorisation shall not be construed as authorisation unless the entity is granted authorisation under section 7 of the Payment and Settlement Systems Act, 2007.² New PAs cannot commence operations until that authorisation is granted.²

Do I need to check a bank on RBI's payment aggregator list?+

A bank does not need to be checked on RBI's payment aggregator list, because banks do not need RBI authorisation to carry on payment aggregator business and so do not appear on it.³ For a bank, check instead that it is an Authorised Dealer for foreign exchange before routing export receipts through it.

What if the payment provider's brand is not on RBI's list?+

If the payment provider's brand is not on RBI's list, search for its Indian legal entity name instead. RBI lists the legal name and sometimes a brand next to it, so the brand you know may not appear.¹ The legal name is usually in the provider's terms of service, privacy policy or settlement advice.

How often should I recheck a payment aggregator's RBI authorisation?+

Recheck a payment aggregator's RBI authorisation from time to time, for example once a year or before moving a large client to it. RBI's authorisation page lists authorisations that were later revoked, ceased or surrendered, so a provider authorised when you signed up may not be authorised today.¹

Which PA-CB category does an exporter receiving money need?+

An exporter receiving money from abroad needs a provider whose category includes PA-CB-I (Cross Border, Inward) or PA-CB-I & O (Cross Border, Inward and Outward).¹ PA-CB-O covers outward payments only, and PA-O covers domestic online payments, so neither is enough on its own for export receipts.

This page is general information for Indian service exporters, not tax or legal advice. Rules change and outcomes depend on your facts, so confirm with a chartered accountant before acting.

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