MUMBAI, Oct 29 (Reuters) - India's Jio Payment

Solutions, a wholly-owned subsidiary of billionaire Mukesh

Ambani-led Reliance Group firm Jio Financial Services,

has received the central bank's approval to operate as an online

payment aggregator, Jio Financial said on Tuesday.

A payment aggregator is a third-party service provider that

enables customers to make and businesses to accept payments

online. Payment aggregators enable their clients to accept

various payment methods such as debit cards, credit cards,

cardless easy monthly installments, United Payments Interface

transfers, bank transfers, e-wallets, and e-mandates.

The approval is effective Oct. 28.

Jio Financial was spun out of the Ambani-led Reliance Group

last year.