Nium secures RBI in-principle approval for PPI and PA licenses to offer financial products in India.
The Nifty Bank Index, a stock market index representing the Indian banking sector, consists of various banking stocks listed on the National Stock Exchange of India. In 2023-24, over 9,300 crore UPI transactions were conducted, showcasing India's digital payment growth. Additionally, Nium, a global payments company, secured in-principle approval from the Reserve Bank of India for two prestigious payment licenses – Prepaid Payment Instrument (PPI) and Payment Aggregator (PA). This will allow Nium to offer various financial products, such as prepaid cards and merchant payment acquiring.
February 05, 2024
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