EnKash received RBI’s in-principle nod as online payment aggregator: Business spend management platform EnKash has received RBI’s in-principle approval for payments aggregator (PA) licence, which will enable the company to broaden its product offerings to businesses for digital transactions.
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Founded in 2018, EnKash has helped over 100,000 businesses digitise and decentralise their corporate payments, and has issued more than 8 lakh corporate cards. The licence will help Enkash streamline cash flow process for businesses by consolidating payables and receivables and making necessary actions around payments, the company said in a release.
Payment aggregators: They facilitate e-commerce sites and merchants to accept payment instruments from customers.
They help to connect merchants with acquirers. BharatPe and Hitachi Payment Services have also received in-principle authorization to operate as payment aggregators.
