Nium Receives In-Principle Approval from RBI for Two Major Payment Licenses

Nium, the leader in real-time global payments, announced that it has received in-principle approval for two significant payment licenses from the Reserve Bank of India (RBI) - the Prepaid Payment Instrument (PPI) License and the Payment Aggregator (PA) License. These licenses will further expand Nium's business presence in India.

According to Nium, the PPI license will allow the company to issue its versatile prepaid cards locally that can be designed for a variety of consumer and business applications. Meanwhile, the PA license will enable Nium to provide merchant onboarding and acquiring services in the Indian market.

Anupam Pahuja, Executive Vice President and General Manager, Asia Pacific, Middle East and Africa at Nium, stated: "We're honoured to be among the few trusted by the RBI with these licences and we look forward to helping India further its leadership in payments innovation. Nium prides itself on applying its expertise in global payments to advancing payments ecosystems around the world. These licences make Nium a one-stop-shop for all payment needs in India. For the end customer, Nium is making it seamless for Indians to shop the world."

It's worth noting that Nium's ambitions are not limited to the Indian market alone. In September of last year, the global payments leader announced the opening of a new European headquarters in London​, aiming to coordinate its operations in Europe and accelerate its expansion in the region.