CAMSPay Gets RBI Approval To Operate As Payment Aggregator

The license will help CAMSPay to further fortify its offerings in the payments arena, its CEO Vasanth Jeyapaul
CAMSPay to become a payment aggregator
CAMSPay to become a payment aggregator

Registrar and transfer agent of mutual funds Computer Age Management Services Ltd (CAMS) on Wednesday said its payment platform CAMSPay, has received in-principal authorisation from the Reserve Bank of India to operate as a payment aggregator, the company said on Wednesday.

CAMSPAy, a payment platform specialising in solving banking and finance services sector's payment challenges has been supporting mutual fund investors, insurance policy holders and loan borrowers for over a decade in enabling them to move from paper-based mandate process to offering digital payment solutions.

CAMSPay, has received in-principle authorisation from Reserve Bank of India to operate as a 'Payment Aggregator," a bank statement said here.

"We are thrilled to receive the in-principle authorisation to operate as a payment aggregator to create a much more robust and inclusive digital payment stack for the chosen merchant segments that we operate in, delivering a variety of acceptance options," CAMSPay CEO Vasanth Jeyapaul said. 

"The license will help us further fortify our offerings in the payments arena," he said.

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