PB Fintech Invests ₹100 Million In Payments Arm PB Pay

PB Fintech has invested ₹100 million in its wholly owned subsidiary PB Pay Pvt. Ltd. to support general operating needs and upcoming business requirements, the company said in a stock exchange filing on Friday.

PB Pay was incorporated on April 9, 2024, with the objective of operating as a payment aggregator by offering merchants offline and digital payment acceptance solutions.

However, the company is yet to commence operations, and it clarified that any business activity as a payment aggregator will be subject to prior approval or licensing from the Reserve Bank of India.