The Reserve Bank of India (RBI) on Wednesday said 32 online entities have received approval from the apex bank to operate as payment aggregators.

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Applications are under process for another 18 existing payment aggregators, the RBI said.

Amazon (Pay) India Private, Razorpay Software Private, Pine Labs Private, Zomato Payments Private, Google India Digital Services Private, Infibeam Avenues, NSDL Database Management, Paymate India Private, Finlogic Technologies India Private are among others that have been granted approval from the apex bank.

Here is the full list of payment aggregators who can operate as online payment aggregators

"Grant of 'in-principle' authorisation shall not be construed as authorisation unless the entity is granted ‘authorisation’ under Section 7 of the Payment and Settlement Systems Act, 2007," the RBI said.

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"For the purpose of ‘authorisation’, the entity shall have to submit to RBI a System Audit Report (SAR) along with a certificate from a Chartered Accountant regarding compliance with the net worth requirement," the central bank said.

The entities must also have to comply with other requirements under the Guidelines and fulfill additional conditions stipulated by RBI, the apex bank added.

The payment aggregator framework, introduced formally in March 2020, mandates that only firms approved by the RBI can acquire and offer payment services to merchants. RBI has been strict in its evaluation of entities that have applied for the payment aggregator licence.

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Multiple online payment gateways seeking the aggregator licence came under intense scrutiny from the central bank for – know-your-customer (KYC) related issues, past dealings with cryptocurrency exchanges and gaming apps, and for not complying with the net worth criteria that RBI had set out.