<h1>Central Bank Grants Online Payment Aggregator License Under Payment and Settlement Systems Act, Lifting Merchant Restrictions</h1> An online payment services company received in-principle authorization from the central bank to operate as an online payment aggregator under the Payment and Settlement Systems Act, 2007. This approval lifts a prior restriction imposed since November 2022 that barred the company from onboarding new merchants. The company had applied for the license in March 2020, but approval was delayed due to compliance issues related to foreign direct investment. The authorization was granted shortly after a foreign investor exited the company by selling its entire stake.