Boku Inc - San Francisco-based payment service provider - Says its business in India, Boku Network Services IN Pvt Ltd, has received authorisation from the Reserve Bank of India to operate as a payment aggregator. A payment aggregator is a third-party service that facilitates online payments between consumers and businesses. Upon receipt of in-principle authorisation in January, Boku said the approval ‘is expected to accelerate the growth of local payment acceptance in India via Boku IN, permitting greater choice of payment for Indian consumers vis-a-vis Boku merchants’.
Chief Executive Officer Stuart Neal says: ‘To be one of the limited number of companies to be authorised by the RBI as a payment aggregator is a real privilege and a testament to the hard work put in by our team in India to meet the RBI’s stringent requirements. Out of all the payment licenses Boku holds following its continued investment in expansion, this is among the most important.’
Current stock price: 182.00 pence per share, up 3.7% in London on Tuesday morning
12-month change: up 32%
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