Digispice subsidiary Spice Money gets RBI in-principle PA-P nod

Digispice Technologies Ltd announced that its material subsidiary, Spice Money Limited, has received an in-principle authorisation from the Reserve Bank of India (RBI) to operate as a Payment Aggregator-Physical (PA-P) under the Payment and Settlement Systems Act, 2007. This authorisation is a crucial step for Spice Money to expand its revenue streams by leveraging its merchant network. The in-principle nod is subject to the fulfilment of specific conditions outlined by the RBI within a stipulated timeline, after which a final authorisation will be granted. This development is expected to significantly enhance Spice Money's operational capabilities and market reach in the digital payments space.