Boku receives in-principle authorisation from the RBI to operate as a Payment Aggregator in India

Boku, Inc. (LON:BOKU), a leading global provider of mobile payment solutions, has announced that its Indian entity, Boku Network Services IN Pvt. Ltd., has received an in-principle authorisation from the Reserve Bank of India to operate as a Payment Aggregator in India.  This is expected to accelerate the growth of local payment acceptance in India via Boku IN, permitting greater choice of payment for Indian consumers vis-à-vis Boku merchants.

Boku IN’s in-principle approval follows continued investment by the Group in India.  Boku has been operating in the Indian market for more than ten years, and Boku IN’s Mumbai office by headcount represents one of the largest offices in Boku’s global business.

India leads the world in local payments, with the RBI sponsored Unified Payments Interface (“UPI”) acting as a global trend-setter.  Boku wholeheartedly shares the vision of the RBI of ‘E-Payments for Everyone, Everywhere, Everytime’, and strongly believes the PA-PG authorisation of Boku IN will support this.

Jon Prideaux, Boku’s CEO, commented, “India will soon be the country with the largest population in the world and has a well-established local payments market. The RBI granting to Boku IN the in-principle authorisation to operate as a Payment Aggregator is an important achievement for Boku in a large and rapidly growing market, enabling us to help our customers reach new Indian consumers who increasingly rely on local digital payment methods.”

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn
Boku Inc.

More articles like this

Boku Inc.

Boku AGM will be held on Wednesday 22 May 2024

Boku Inc, a leading provider of global mobile payment solutions, has announced that it has posted its notice of Annual General Meeting to stockholders. Copies of the notice of AGM and proxy form are available to

Boku Inc.

Boku CEO on target to double revenues in the medium term (LON:BOKU)

Boku’s Jon Prideaux discusses financial highlights, local payment methods, 50 new launches with new merchants in 27 countries, reaching over 7.5 billion end user accounts, and what can we expect to see from the group over the next year in this exclusive interview with DirectorsTalk.

Boku Inc.

Boku strong performance continues in H2 with revenues up 26%

Boku Inc (LON:BOKU), a leading provider of global mobile payment solutions, has announced the following unaudited interim results for the six months ended 30 June 2023. Group Highlights Financial Highlights ●     Revenues up 26% to $38.2m in H1 (H1 2022: $30.3m) and up

Boku Inc.

Boku, Inc. Results, Investor Webinar and Analyst Briefing

Boku Inc (LON:BOKU), a leading global mobile payments company, has stated that it will announce its results for the six months ended 30 June 2023 on Tuesday 26 September 2023. Analyst Briefing The Company’s management will be hosting a

Boku Inc.

Boku appoints Stuart Neal as Chief Executive Designate

Boku Inc (LON:BOKU), a leading provider of global mobile payment solutions, has announced that Jon Prideaux, the Company’s Chief Executive Officer, has informed the Board of his intention to retire from his role on 31 December

Boku Inc.

Boku H1 revenues expected to be at least $37.5m, up 24%

Boku Inc (LON:BOKU), a leading provider of global mobile payment solutions, has announced the following unaudited trading update for the six months ended 30 June 2023 Financial Highlights ·    Revenues for the half year ended 30 June 2023 expected