Payments Research

May

PayU receives final approval from RBI to operate as payment aggregator in India

In April 2024, PayU, a global fintech company backed by Prosus, received in-principle approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator (PA). This milestone marked a significant step in PayU’s journey to becoming a fully licensed payment service provider in India. The final approval,…

May

Asia Payments Research

Homegrown giants and super-apps defining the APAC mobile wallet landscape

The Asia-Pacific (APAC) region has firmly established itself as a global hub for mobile payments, boasting a dynamic and well-established market with over 60 active mobile wallet brands and platforms, not including numerous bank-backed applications – as noted in a recent e-book published by Thunes, a cross-border payment infrastructure company based in Singapore.…

May

Asia Payments Research

UPI outages in early 2025 indicate need for tighter controls and monitoring

During the months of March and April 2025, India’s Unified Payments Interface (UPI) experienced several outages, with the most notable disruption occurring on April 12, when the system was affected for nearly five hours. This marks the longest downtime in recent years. According to the NPCI (National Payments Corporation of India), the…

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