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The Economic Times
The Economic Times
Business

Axis Bank's Freecharge gets in-principle RBI nod to operate as payment aggregator

Axis Bank Freecharge Reserve Bank of India UPI

Axis Bank's digital payments platform Freecharge Payment Technologies Private Limited received in-principle approval from the Reserve Bank of India (RBI) to operate as a payment aggregator under both online and physical Payment Aggregator categories during the second quarter of FY27, the lender said in an investor presentation on Saturday.

The approval comes as Axis Bank continues to expand its digital payments franchise, with the lender reporting a 34% year-on-year growth in total UPI transaction value in the July-September quarter.

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