The Reserve Bank of India (RBI) has granted Boku’s Indian entity Boku IN in-principle authorization to operate as a Payment Aggregator (“PA-PG”) in India. This is expected to accelerate the growth of local payment acceptance in India via Boku IN, permitting Boku customer to reach Indian consumers with a greater choice in payment options.
Boku IN’s in-principle approval follows continued investment 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.
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.”
For more information, see In-principle authorization from Reserve Bank of India.