Process to Obtain a Payment Aggregator License in India

A Prepaid Wallet License in India from the RBI is essential. This license allows you to issue mobile wallets, digital wallets, and prepaid cards, providing a secure platform for your customers to store and spend money electronically. The application process involves meeting the RBI’s net worth requirement of ?5 crores, ensuring compliance with KYC norms, and submitting detailed documentation. Although the approval process can be lengthy, obtaining this license can significantly boost your business in the digital payments space.