Policybazaar arm gets payments licence

Mumbai: PB Fintech (policybazaar) on Thursday said its wholly owned subsidiary PB Pay has received a Certificate of Authorisation from the Reserve Bank of India to operate as a payment aggregator, marking its formal entry into the regulated payments business.

The authorisation, granted on Feb 6, 2026, allows PB Pay to commence payment aggregation activities with immediate effect. The approval follows a regulatory process that began in early 2024, when the subsidiary had received an in-principle nod from the central bank.

PB Fintech is the parent of online insurance marketplace Policybazaar and lending platform Paisabazaar.

A payment aggregator enables merchants to accept multiple digital payment modes, including UPI, credit and debit cards, and wallets, without tying up individually with banks.

The company said the licence would allow it to integrate payment processing within its own platforms, reduce dependence on third-party gateways, and improve transaction efficiency for customers. It also opens up the possibility of offering payment services to external merchants as a separate business vertical.

PB Fintech’s board had approved the incorporation of PB Pay in March 2024 as part of its plans to expand into payments. The approval comes amid a period of strong financial performance, with the company reporting net profit of Rs 189 crore for the quarter ended Dec 2025.

With the licence, PB Pay joins a limited set of fintech firms authorised by the RBI to operate as payment aggregators in India’s fast-growing digital payments market.