Worldline ePayments India (WEIPL), a leader in digital payments, has received in-principle authorisation from the Reserve Bank Of India (RBI) to act as a payment aggregator (PA). The authorisation by the RBI was under the provisions of the Guidelines on Regulation of Payment dated March 17, 2020.
About The Worldline ePayments India (WEIPL):
Worldline ePayments India, part of Worldline group, offers solutions for all sorts of payment needs offering in-store, online, and omnichannel payments to its customers.
About Payment Aggregators and Payment Gateways:
- Payment Aggregators facilitate e-commerce sites and merchants in accepting payment instruments from the customers for completion of their payment obligations without the need for merchants to create a separate payment integration system of their own. Example: Billdesk.
- Payment Gateways are entities that provide technology infrastructure to route and facilitate processing of an online payment transaction without any involvement in handling of funds. PGs in India mainly include banks.
- A Payment Gateway allows the merchants to deal in a specific payment option put on the portal, whereas a Payment Aggregator allows one to have multitudes of options for payment. Thus, a Payment Aggregator covers a payment gateway in its ambit.