BharatPe’s Resilient Payments gets RBI approval for payment aggregator license

Resilient Payments Private Limited, a BharatPe Group company, has received final approval from the Reserve Bank of India (RBI) to operate as an online Payment Aggregator (PA). 

This development follows RBI’s recent approvals to other players in the space. In March 2024, Infibeam Avenues received the final nod from RBI to operate as a PA. In April 2024, PayU also secured its PA license and resumed onboarding new merchants. 

With this, BharatPe becomes the only Indian fintech with an NBFC license (Trillion Loans), a stake in a Small Finance Bank (Unity SFB), and now a PA license.

Resilient Payments will operate under the brand name BharatPe X and will focus on scaling digital payment solutions. The company plans to expand its merchant base, particularly in tier 2 and 3 cities, and invest in its technology infrastructure.

BharatPe offers a full-stack fintech platform integrating payments, credit, and investment services. It currently serves over 1.3 crore merchants across more than 450 cities and processes over 450 million UPI transactions monthly. Its POS business manages transactions worth Rs. 29,000 crore annually. BharatPe Money has facilitated loans exceeding Rs 18,000 crore through partnerships with NBFCs.

The company plans to build a merchant-first digital payments platform through BharatPe X.

In recent developments, the company launched new secured loan products and entered consumer payments with a rebranded app. BharatPe also acquired PAYBACK India (now Zillion) and holds a significant stake in Unity SFB.