Unlimit, a global fintech company, has announced its entry into the Indian market, accompanied by the receipt of its Reserve Bank of India (RBI) Online Payment Aggregator license. This development grants Unlimit authorization to operate as a payment service provider in the region.

License Enables Expansion of Payment Services

With this license, Unlimit is set to offer a range of payment services and methods, aimed at assisting local businesses in expanding their reach to a broader audience. The timing of Unlimit's entry into the Indian market coincides with substantial growth in digital commerce within the country.

According to projections from Statista, digital commerce is anticipated to be the largest sector within the region's electronic payments industry in 2024, with a projected total transaction value of US$211.30 billion. Furthermore, the total digital payments transaction value in the region is expected to reach US$254.60 billion by 2024 and US$394.40 billion by 2028, with an annual growth rate of 11.56%.

Meanwhile, Revolut India has obtained an in-principle authorization from the RBI to issue Prepaid Payment Instruments, expanding its existing permissions to operate as an Authorized Dealer Category II, as reported by Finance Magnates.

CEO Expresses Confidence in Indian Market Entry

The acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term of the RBI license has followed closely on the heels of Unlimit securing its Bank of Tanzania license and expanding its presence in the African region.

Asheesh Agrawal, the CEO of Unlimit India, said: “Unlimit’s launch in India is a logical next step in our global expansion strategy and a testimony of our commitment to continuously empower businesses worldwide with a reliable and secure payment experience. Securing the RBI Online Payment Aggregator license is a significant moment for us, allowing us to support the evolution of the local digital payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term landscape and to bring our comprehensive suite of payment solutions to the local business community.”