India, Nov. 17 -- Prosus-owned fintech major PayU has secured 'integrated authorisation' from the Reserve Bank of India (RBI) to operate as a payment aggregator across online, offline, and cross-border transactions.

The approval allows PayU to onboard merchants and process digital payments on their behalf - from collecting customer funds to routing transactions via cards, UPI and net banking, and settling them with merchants. It also enables the company to facilitate compliant inward and outward cross-border payment flows under the Payment and Settlement Systems Act, 2007.

This marks PayU's second major regulatory milestone in six months, following its final authorisation from RBI to operate as a domestic payment aggregator earlier this...