Innoviti Payments, Concerto Software Secure RBI Licences

The Reserve Bank of India (RBI) has injected fresh momentum into India’s booming $88.13 billion digital payments arena by granting Payment Aggregator (PA) licences to Innoviti Payments and Concerto Software. This move elevates both companies to the ranks of established players like Razorpay, Cashfree, and Amazon Pay, further intensifying competition and innovation within the sector.

The Significance of the RBI’s PA Framework

Established in March 2020, the RBI’s PA framework mandates a licence for any entity onboarding merchants and providing them with digital payment acceptance solutions. An RBI PA licence signifies a company’s adherence to rigorous regulatory standards and operational excellence. This, in turn, fosters trust and bolsters security within the digital payments ecosystem, giving consumers and businesses greater confidence in online transactions, which are projected to reach a staggering ₹70.35 trillion ($847.8 billion) by 2026 .

Innoviti Payments and Concerto Software

Innoviti Payments, with its ‘Innoviti Link’ platform, currently empowers over 2,500 online merchants to accept digital payments. The RBI’s PA licence strengthens their position as a key player facilitating seamless ecommerce transactions. Similarly, Concerto Software’s ‘Vegaah’ payment gateway now joins the ranks of authorized PA solutions, showcasing their commitment to innovation and secure online transactions.

More Players Join the Authorized PA Roster

The RBI’s approval for Innoviti Payments and Concerto Software comes alongside a wave of other entities receiving PA licences in 2024. This distinguished list includes notable names like Infibeam Avenues, JusPay, Stripe, and Tata Payments, bringing the total to 13. This expanding pool of authorized PAs reflects the active participation of a diverse range of fintech companies in the digital payments sector, which is expected to contribute significantly to India’s ambition of becoming a $5 trillion economy by 2025 [Source: Invest India]. This surge in participation aligns with evolving consumer preferences for faster, more convenient payment options, and keeps pace with a rapidly changing regulatory environment.

A Brighter Future for Digital Payments in India

The RBI’s approval for Innoviti Payments and Concerto Software underscores its commitment to fostering a robust, secure, and competitive digital payments landscape in India. With a growing number of authorized PAs, businesses and consumers can expect a wider array of secure and efficient payment options. This not only empowers consumers but also fuels the growth of the digital economy by making it easier for businesses of all sizes to participate in the online marketplace, which is anticipated to reach 900 million users by 2030 . As the digital payments sector thrives, we can expect further innovation and a more seamless experience for all stakeholders involved.

Recent Blog : Reliance Power Units Settle Rs 1,023-cr Debt

Share:

MORE STORIES

## Navigating the AI Revolution: 5 Trending Google Ads Topics for Marketers As Google Ads continues its rapid evolution, staying ahead of the curve is paramount for digital marketers. The platform’s increasing reliance on artificial intelligence, shifting privacy landscapes, and the introduction of new campaign types are creating a fresh set of challenges and opportunities. Here are five top trending blog topics that delve into the most critical areas of Google Ads today. ### 1. The Rise of the Machines: Mastering AI-Powered Campaign Types Google is unequivocally betting on AI to drive the future of its advertising platform. A key area of focus for marketers is understanding and mastering AI-driven campaign types like Performance Max and Demand Gen. These campaigns automate targeting, bidding, and ad creation across Google’s entire inventory. A deep dive into strategies for providing the right inputs to these “black box” models, interpreting their performance, and understanding how to guide the AI for optimal results is a crucial topic for advertisers looking to succeed in this new era. ### 2. Beyond the Click: Navigating the New Landscape of Measurement and Attribution With the impending deprecation of third-party cookies and a growing emphasis on user privacy, the way advertisers measure success is undergoing a fundamental shift. This has propelled topics like enhanced conversions, consent mode, and the integration of first-party data to the forefront. Marketers are actively seeking guidance on how to implement these privacy-centric measurement solutions to gain a more accurate and holistic view of their campaign performance in a world without granular user tracking. ### 3. Creative is the New Targeting: Leveraging AI for Compelling Ad Experiences In an automated world, the creative has become a key differentiator. Google is investing heavily in AI-powered tools that can generate and optimize ad copy, images, and videos. Blog posts that explore how to effectively use these generative AI features to create a high volume of diverse and engaging ad creatives are gaining significant traction. This includes best practices for providing creative inputs, A/B testing AI-generated assets, and ensuring brand consistency across automated campaigns. ### 4. The Evolution of Search: Adapting to a More Conversational and Visual SERP The traditional keyword-based search is evolving. Users are increasingly employing longer, more conversational queries, and Google is responding with a more visual and AI-driven search engine results page (SERP). This shift requires a re-evaluation of traditional keyword research and bidding strategies. Trending discussions revolve around how to adapt to this new reality, including the role of broad match keywords, the importance of high-quality creative in visual search formats, and strategies for capturing intent in a more conversational search landscape. ### 5. Future-Proofing Your Strategy: The Growing Importance of a Full-Funnel Approach As automation takes over many of the manual levers within Google Ads, the focus is shifting towards a more strategic, full-funnel marketing approach. Advertisers are looking for insights on how to effectively use different Google Ads campaign types to guide users through the entire customer journey, from initial awareness to final conversion and retention. This includes discussions on how to structure campaigns to complement each other, allocate budgets across the funnel, and measure the impact of upper-funnel activities on bottom-line results.

Google Ads is in the midst of a quiet revolution—one driven by artificial intelligence, privacy-first regulations, and a rapidly changing search landscape. For digital marketers,

Send Us A Message