Boku IN secures in-principal payment aggregator authorisation from RBI

Monday 6 February 2023 15:41 CET | News

Provider of mobile payment solutions Boku IN has received and in-principle authorisation, enabling more payment choice for Indian consumers and Boku merchants.


Boku IN's in-principle approval follows continued investment by the Group in India. Boku has been operating in the Indian market since 2012, and Boku IN's Mumbai office by headcount represents one of the largest offices in Boku's global business.

India is an innovator in local payments, with the RBI sponsored Unified Payments Interface (UPI) acting as a global trend-setter. Boku shares the vision of the RBI of 'E-Payments for Everyone, Everywhere, Everytime', and strongly believes the PA-PG authorisation of Boku IN will support this.

Boku IN gets in-principle authorisation, enabling more payment choice for Indian consumers and Boku mercahnts.

Company officials stated that India will soon be the country with the largest population in the world and has a well-established local payments market. The RBI granting to Boku IN the in-principle authorisation to operate as a payment aggregator is an important achievement for Boku in a large and rapidly growing market, enabling them to help their customers reach new Indian consumers who increasingly rely on local digital payment methods.

What does BOKU IN do?

Boku IN is a global provider of mobile payment solutions. Its mobile-first payments network provides multiple mobile payment methods, including mobile wallets, direct carrier billing, and real-time payments schemes, reaching over 7 billion mobile payment accounts in 91 countries - all through a single integration.

Customers that trust Boku to simplify sign-up, acquire new paying users, and prevent fraud include global leaders such as Amazon, Apple, Facebook, Google, Microsoft, Netflix, PayPal, Sony, Spotify, and Tencent.

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Keywords: payments aggegator license, RBI, mobile payments, merchants, digital payments
Categories: Payments & Commerce
Companies: Boku IN
Countries: India
This article is part of category

Payments & Commerce

Boku IN

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