Comments
Computer Age Management Services Ltd said the Reserve Bank of India (RBI) has granted authorisation to the company to operate as an online payment aggregator.
The certificate of authorisation bearing No 183/2024 has been received today by the company. The company received an in-principle authorisation from RBI in February 2023, according to a statement.
- Also read: CAMS net profit up 20% on better margins
The company made an application to RBI for the issue of a certificate of authorisation after the business became regulated consequent to the issue of ‘Guidelines on Regulation of Payment Aggregators and Payment Gateways’ (Guidelines) in March 2020.
CAMSPay, the payment business unit of the company, has been in the payment solutions industry for the past 15 years. It serves a diverse portfolio of clients which include mutual funds, insurance companies, banks and non-banking finance companies.
In March 2024, CAMSPay achieved a registration of more than a 1.2 million mandates for UPI autopay.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.