In 2020, the RBI made payment aggregation a licensed activity. This set off a race among payment service providers to secure this license. But the RBI guidelines on payment aggregation are new and ambiguous and the RBI granted the license sparingly. Established players had their applications denied or were asked to re-apply. Our client, MMADpay, is a payment service provider which primarily serves public-sector clients. It’s a high-impact business that can improve the experience of ordinary citizens while interacting with public-sector entities. We helped MMADpay prepare its application for a payment aggregator license and engage with the RBI. The client successfully secured an in-principle approval from the RBI to act as a payment aggregator.