Tata’s Licensing Leap ! Tata Pay will now compete with Google Pay and Paytm

January 2024 will see Tata Pay entering the market to compete with Google Pay and Paytm.

The Reserve Bank of India (RBI) has granted approval for Tata Group’s digital payment app, Tata Payments, as a Payment Aggregator (PA). 

This enables the company to facilitate e-commerce transactions seamlessly through its platform. Tata Payments, operated by Tata Digital, is set to play a crucial role in enhancing the group’s digital ecosystem, offering a user-friendly experience for e-commerce transactions.

According to the information obtained, Tata can now empower all e-commerce operations within its subsidiaries, leading to more efficient fund management, with the Payment Aggregator License,

Tata Payments, which is operated by the Tata Digital subsidiary, oversees their digital business. Tata Pay has joined the league of payment aggregators, securing approval alongside Razorpay, Cashfree, Google Pay, and other companies. 

According to reports, “The payment aggregator license is aimed at securing Tata Pay for anticipated payment transactions.”

Tata Pay, along with the Bengaluru-based identity verification startup Digio, also received approval as a PA on January 1. Digio, recognized for its digital identity verification in the fintech sector, is poised to provide payment services.