DiGiSPICE Technologies said its subsidiary Spice Money has received an in-principle authorisation from the Reserve Bank of India to operate as a Payment Aggregator-Physical. The approval remains subject to conditions that must be fulfilled before final authorisation is granted.
BKK Bureau, New Delhi | 24 October 2026 | 3:58 PM IST
DiGiSPICE Technologies Limited has informed the National Stock Exchange of India that its subsidiary, Spice Money Limited, has received an in-principle authorisation from the Reserve Bank of India to operate as a Payment Aggregator-Physical, or PA-P.
The disclosure was made under the company’s regulatory reporting for key licences and regulatory approvals. The authorisation is granted under the Payment and Settlement Systems Act, 2007, the legal framework identified in the exchange filing.
Approval is not yet final
The RBI approval is described as being in principle rather than final. According to the NSE disclosure, Spice Money must fulfil conditions specified by the central bank within the stipulated timeline. Final authorisation will be granted after those conditions are met.
The filing does not describe the authorisation as an unconditional or immediately final licence. The distinction is material for the company’s regulatory status, because the next step remains completion of the requirements set by the RBI and subsequent grant of final approval.
Planned business use
DiGiSPICE said the in-principle authorisation will help Spice Money scale up its revenue by expanding and leveraging its merchant network as a Payment Aggregator-Physical. The company’s stated rationale links the regulatory approval to a planned expansion of its payment-aggregation activities.
The disclosure identifies Spice Money as the entity that will operate under the authorisation, while DiGiSPICE Technologies is the listed company that reported the development to the exchange. The NSE filing records the approval as an RBI grant and identifies the subsidiary’s proposed operating role.
Disclosure timeline
The event information in the filing is dated October 23, 2026, while the exchange disclosure was published on October 24, 2026. DiGiSPICE classified the update under key licences or regulatory approvals and specified the approval’s status as in principle.
The filing therefore establishes three immediate facts: Spice Money has obtained RBI’s in-principle approval for the PA-P activity; the approval is governed by conditions to be fulfilled within the stipulated timeline; and the company intends to use the approval to expand its merchant-network-led revenue opportunity.
For DiGiSPICE, the development is a regulatory milestone for its subsidiary’s payment-related business. The company’s stated objective is to use the authorisation to expand and leverage the merchant network, subject to the conditions attached by the RBI and the eventual grant of final authorisation.
Why it matters
The approval creates a regulatory pathway for Spice Money to operate as a Payment Aggregator-Physical, while the requirement to satisfy RBI conditions means the authorisation is not yet final. DiGiSPICE has linked the milestone to expansion of its merchant network and revenue from payment-aggregation activities.
Source: National Stock Exchange of India
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