Current Affairs - Finance - Discussion

PhonePe received final approval from the Reserve Bank of India (RBI) on September 19, 2025, to operate as an online payment aggregator. This authorization allows the fintech platform to provide secure and scalable digital payment solutions, particularly benefiting small and medium enterprises (SMEs) that previously lacked easy access to online payment infrastructure. As a payment aggregator, PhonePe will act as an intermediary between customers, merchants, and banks, ensuring secure transactions, operational transparency, and consumer protection. The move strengthens India’s digital payments ecosystem and supports financial inclusion by enabling seamless digital transactions for a wider range of businesses across urban and rural areas.