For safety of merchants and consumers, RBI had issued a framework in March 2020, making it mandatory for payment gateways to have a licence to acquire merchants and provide them with digital solutions
The acquisition marks Razorpay’s first international foray and will help it gain foothold in South East Asia.
The fintech firm's co-founder and CEO, Harshil Mathur, says that the company aims to double its merchant base to 10 million small and medium businesses by the end of the year.
