To widen the scope and coverage of CAMSPay in offering a robust and inclusive digital payment stack to customers
CAMSPay, a panoptic payment platform specializing in solving BFSI sector’s payment challenges has received in-principle authorization from Reserve Bank of India to operate as a Payment Aggregator (PA).
Part of Computer Age Management Services Limited (CAMS), India’s largest registrar and transfer agent of mutual funds (a SEBI regulated entity), CAMSPay has been an integral payments partner supporting Mutual Fund investors, Insurance policyholders and Loan borrowers for over a decade in enabling them move from paper-based mandate process to offering digital payment solutions. As a specialized payments solutions provider to the BFSI segment, the in-principal authorization from RBI to operate as a Payment Aggregator will widen the scope and coverage of CAMSPay.
“CAMSPay provides a wide range of payment options including Digital Payments, Payment Gateway, Cards, UPI, and Net Banking. The in-principle authorization from RBI to operate as a Payment Aggregator is a key milestone towards further strengthening our offerings in the BFSI segment. We reaffirm our commitment to making payments more seamless and secure to all stakeholders ” said Mr. Ravi Kiran, Head of New Businesses for CAMS.
Mr. Vasanth Jeyapaul, CEO, CAMSPay said, “We are thrilled to receive the in-principle authorisation to operate as a Payment Aggregator to create a much more robust and inclusive digital payment stack for the chosen merchant segments that we operate in, delivering a variety of acceptance options. The license will help us further fortify our offerings in the payments arena”.
Mutual Fund Investors use CAMSPay for their SIP and bullet investments, Insurance Policy holders for paying their policy premia and loan borrowers for repaying their loans. With a comprehensive suite of payment options, CAMSPay is well-known for its strong commitment to compliance and security. CAMSPay works with over fifty financial institutions which include mutual funds, insurance companies, and NBFCs across India. As the first to provide UPI Autopay service to the Mutual Funds sector, CAMSPay continues to lead the market with its innovative payment solutions.