RNFI Services Ltd has received crucial in-principle authorisation from the Reserve Bank of India to operate as a Payment Aggregator Physical, significantly expanding its financial infrastructure and digital payment capabilities across India.
Key Points
- RNFI Services Ltd has secured in-principle authorisation from the RBI for a Payment Aggregator – Physical (PA-P) licence.
- This approval enables RNFI to operate in the physical, offline, and in-store payments sector, expanding its reach.
- The PA-P authorisation complements RNFI’s existing suite of regulated financial services, including money movement, mutual funds, insurance, and PPI.
- The company aims to leverage this new licence to drive digital adoption among both underserved and unserved customers and merchants.
- This strategic move strengthens RNFI’s position in India’s evolving digital payments landscape and financial inclusion efforts.
RNFI Services Ltd, a last-mile financial infrastructure company, has received in-principle authorisation from the Reserve Bank of India (RBI) to operate as a payment aggregator physical (PA-P), a step that will help the company expand its financial infrastructure.
The authorisation has been granted to RNFI Services Ltd, the listed entity, enabling the company to operate in the physical, offline and in-store payments space, subject to conditions specified by RBI, the company said in a statement.
Expanding Financial Services Portfolio
The new capability adds to RNFI’s existing portfolio of regulated financial services, it said, adding that the company currently has capabilities across global money movement through its RBI-authorised AD Category-II licence, mutual fund distribution, insurance through its IRDAI-registered insurance broking business, and stored value through its RBI-authorised PPI business in the group, it said.
The PA-P authorisation further expands this licence stack into physical payments, allowing RNFI to build another regulated payments capability on its existing distribution, technology and field infrastructure, it said.
Simran Singh, founder & Chief Strategy Officer, RNFI Services, said the company remains committed to being instrumental in driving digital adoption among both underserved and unserved customers and merchants.
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