visimoney
TLDR:
- PB Fintech, promoter of Policy Bazaar, is setting up a payment aggregator subsidiary.
- The subsidiary, named ‘PB Pay Private Limited’, will facilitate merchants with payment acceptance infrastructure.
PB Fintech, the promoter of Policy Bazaar, has announced the formation of a wholly-owned subsidiary to operate as a payment aggregator. The new subsidiary, ‘PB Pay Private Limited’, will focus on providing merchants with offline and digital payment acceptance infrastructure, subject to approval from the Reserve Bank of India. The proposed company will have a paid-up share capital of Rs 27 crore, and the process of incorporation is pending approval from relevant authorities.
The decision to establish this subsidiary reflects PB Fintech’s strategic move to expand its payment services and offer more comprehensive solutions to merchants. By entering the payment aggregator space, the Company aims to enhance its presence in the fintech industry and capitalize on the growing demand for digital payment solutions.
Overall, the establishment of PB Pay Private Limited signifies PB Fintech’s commitment to innovation and diversification within the payment sector. This move is expected to strengthen the Company’s position in the market and enable it to better serve merchants with efficient payment processing solutions.
