Social ,13 Apr 2025

BharatPe’s Resilient Innovations Secures RBI Payment Aggregator License

In a significant move that strengthens BharatPe’s foothold in India’s fast-evolving digital payments space, its wholly-owned subsidiary Resilient Innovations Pvt Ltd has secured the coveted Payment Aggregator (PA) license from the Reserve Bank of India (RBI). This development marks a major milestone in BharatPe’s ambition to become a full-stack fintech solutions provider for merchants across the country.

 

What Is a Payment Aggregator License?

A Payment Aggregator license, as issued by the RBI, allows non-bank entities to facilitate online and offline payments by accepting payments on behalf of merchants. It ensures regulatory compliance and boosts trust among merchants and customers by ensuring proper data handling, settlement timelines, and security protocols.

 

BharatPe’s Next Chapter: Launching ‘BharatPe X’

Following the approval, Resilient Innovations is gearing up to launch a new online payments platform under the brand ‘BharatPe X’. This platform will enable merchants to:

1. Accept online payments via UPI, cards, wallets, and net banking
2. Integrate plug-and-play payment solutions on their e-commerce portals
3. Get access to advanced analytics, settlement reports, and fraud protection
4. Combine payments with lending and credit offerings from BharatPe

With this license, BharatPe X is set to directly compete with established payment aggregators like Razorpay, Cashfree, PayU, and CCAvenue.

 

Strategic Expansion Beyond QR Codes

While BharatPe made its mark with QR code-based UPI payments and merchant lending, this move signals its entry into a more comprehensive digital payment ecosystem. By enabling online merchant onboarding and integrating credit, BharatPe aims to offer a one-stop digital platform that services merchants across all tiers—especially MSMEs and startups.

“This is a pivotal moment for us as we expand our offerings to power online businesses,” said a spokesperson from BharatPe.

 

Industry Outlook

India’s digital payments market is projected to exceed ₹400 trillion by 2026, with online payments accounting for a major chunk. RBI’s emphasis on regulation and customer protection through licensed entities is pushing fintechs to formalize and scale responsibly.

With the Payment Aggregator license, BharatPe joins a growing list of approved players like:

1. Razorpay
2. Cashfree
3. Pine Labs
4. Worldline
5. PayU (awaiting final nod for restructured entity)

 

What’s Next for BharatPe?

This move comes on the heels of BharatPe receiving an NBFC license, its growing lending portfolio, and investment in Unity Small Finance Bank. With BharatPe X, the fintech unicorn is building a digital-first financial ecosystem that spans:

1. Merchant payments (offline + online)
2. Credit and BNPL
3. Neo-banking with Unity Bank
4. Digital POS and value-added services

 

Final Thoughts

As India’s fintech space becomes more regulated and competitive, obtaining the Payment Aggregator license is both a validation and an enabler. BharatPe is positioning itself as a serious player in the digital payment aggregation space, ready to serve the next wave of India’s digital economy—online-first merchants and emerging enterprises.