BharatPe has received the Reserve Bank of India (RBI) approval to operate as an online payment aggregator. The company plans to operate its payment aggregator business under the brand name 'BharatPe X'. 

The Delhi-based digital payments giant received its in-principle approval from the central bank in January 2023. The licence has been granted to BharatPe's subsidiary Resilient Payments.

BharatPe CEO Nalin Negi said, "This final authorisation is not just a milestone, but a responsibility we take seriously. It speaks to the strength of the governance practices and operational frameworks we’ve put in place over the years.” 

Sandeep Indurkar, CEO of Resilient Payments, added, "We're looking to broaden our footprint across high-potential markets, enhance our product suite, and bring more innovation to how businesses accept and manage digital payments. The focus now is on execution—building with intent, speed, and reliability.” 

Founded in 2018, BharatPe claims to have a merchant network over 1.3 crore. The company processes more than 450 million UPI transactions monthly, with an annual transaction value surpassing Rs 1.7 lakh crore. Through BharatPe Money, it has disbursed loans over Rs 18,000 crore in partnership with NBFCs, offering products like loans against mutual funds and home loans. BharatPe has raised over $580 million from investors such as Peak XV Partners, Ribbit Capital, Tiger Global among others.

Companies like Razorpay, Google Pay, Cashfree, CC Avenue, Easebuzz, Innoviti Payments among others have already secured the PA licence over last two years. And, of which, Zomato has already surrendered its licence.