CAMS gets RBI’s nod to operate as an online payment aggregator

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Computer Age Management Services Ltd said the Reserve Bank of India (RBI) has granted authorisation to the company to operate as an online payment aggregator.

The certificate of authorisation bearing No 183/2024 has been received today by the company. The company received an in-principle authorisation from RBI in February 2023, according to a statement.

The company made an application to RBI for the issue of a certificate of authorisation after the business became regulated consequent to the issue of ‘Guidelines on Regulation of Payment Aggregators and Payment Gateways’ (Guidelines) in March 2020.

CAMSPay, the payment business unit of the company, has been in the payment solutions industry for the past 15 years. It serves a diverse portfolio of clients which include mutual funds, insurance companies, banks and non-banking finance companies.

In March 2024, CAMSPay achieved a registration of more than a 1.2 million mandates for UPI autopay.