Zoho, Juspay, and Decentro received RBI Nod for Payment Aggregator Business

Current Context: The Reserve Bank of India (RBI) has granted final authorization to Zoho, Juspay, and Decentro to operate as payment aggregators.

• This approval allows these companies to provide payment services to online merchants by accepting payments from customers.
• Zoho, a software as a service startup, received the payment aggregator license on February 2.
• It is the first enterprise SaaS player to get this nod from the RBI.
• Juspay and Decentro received the final license to operate as payment aggregators on February 6.
• Juspay operates as a payment gateway running a technology stack for ecommerce payments, while Decentro offers financial services like lending, KYC, and other services to consumer-facing companies through APIs.
• With this approval, these companies join the likes of Stripe, Zomato, and Tata Pay, which got the nod in January.
• Major fintech players like Razorpay and Cashfree received the license in 2023.
• This makes a total of 8 companies so far that have secured the coveted payments aggregator license from the RBI.

Question:

Q.1 Which company is the first enterprise SaaS player to receive the payment aggregator license from the RBI?
a. Juspay
b. Decentro
c. Zoho
d. Stripe