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PolicyBazaar’s parent PB Fintech gets board nod for payment aggregator subsidiary

PolicyBazaar’s parent PB Fintech gets board nod for payment aggregator subsidiary

The subsidiary called 'PB Pay Private Limited' would carry on the business of payment aggregator' domestic and/or cross border or both, as may be permitted by the Reserve Bank of India, by facilitating merchants with offline and/or digital payment acceptance infrastructure or both, the company said in a regulatory filing.

Business Today Desk
Business Today Desk
  • Updated Mar 21, 2024 7:43 AM IST
PolicyBazaar’s parent PB Fintech gets board nod for payment aggregator subsidiaryThe subsidiary called 'PB Pay Private Limited' would carry on the business of payment aggregator'

PolicyBazaar promoter PB Fintech said its board has approved the incorporation of a wholly-owned subsidiary to carry on the business of payment aggregator. 
The subsidiary called 'PB Pay Private Limited' would carry on the business of payment aggregator' domestic and/or cross border or both, as may be permitted by the Reserve Bank of India, by facilitating merchants with offline and/or digital payment acceptance infrastructure or both, the company said in a regulatory filing. 

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The subsidiary called 'PB Pay Private Limited' would carry on the business of payment aggregator' domestic and/or cross border or both, as may be permitted by the Reserve Bank of India, by facilitating merchants with offline and/or digital payment acceptance infrastructure or both, the company said in a regulatory filing.

The paid-up share capital of the proposed company would be Rs 27 crore, it said. The application for the process of incorporation of the proposed wholly-owned subsidiary would be filed and completed subject to approval from the relevant authorities, it said. The application for the process of incorporation of the proposed wholly-owned subsidiary would be filed and completed subject to approval from the relevant authorities, it said.

Published on: Mar 21, 2024 7:43 AM IST
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