The email arrived just before sunset. Another one. Subject line: “RBI Approval.” This time, it was Easebuzz. The fintech, a minicorn, finally had the trifecta: licenses from the Reserve Bank of India to operate as a full-stack payments aggregator. What does that mean? It means they can now control the whole process, from the merchant’s side to the customer’s payment.
It’s been a long road. The RBI, as of late, has been tightening the reins on payment aggregators. In March 2020, they introduced new guidelines requiring payment gateways to obtain licenses. The goal: to ensure that customer funds are safe. Easebuzz, founded in 2011, has been working towards this for some time.
I spoke with a source close to the company who preferred to remain anonymous. They said, “This is a major milestone. It allows Easebuzz to offer a more comprehensive suite of services, and gives them more control.” Control is the operative word here. In a market as fragmented as India’s, with players ranging from established banks to nimble startups, control over the payment flow is the ultimate prize.
Easebuzz’s ambitions are clear. They want to be a one-stop shop for businesses. Offering payment solutions, but also value-added services. The RBI’s move, while creating friction, ultimately strengthens the industry. It weeds out the weaker players, and rewards those who build responsibly.
What’s next? Expansion. More merchants. More transactions. The market is huge. India’s digital payments sector is booming. With these licenses in hand, Easebuzz is now in a stronger position to grab a larger slice of the pie. The real test begins now.
