The Reserve Bank of India (RBI) has reportedly asked online payment gateway PayU India to reapply for its payment aggregator license. Due to the complex corporate structure, PayU must reapply for the license.

As a result, PayU India will have to reapply for the license within three months, according to a news report in The Economic Times on Wednesday. As a result, payment aggregators have stopped onboarding new merchants on their platforms.

PayU will reportedly work with the RBI to resolve specific issues and resubmit the application within the next 120 days.

Nonetheless, this development is not expected to affect the company’s existing online merchants.

In December, the central bank similarly asked several payment aggregators, including RazorPay and Cashfree, to suspend new merchant onboarding.

Earlier this week, BharatPe and Hitachi Payment Services received in-principle approval for a payment aggregator license.