RBI grants payment aggregator licence to Mswipe Technologies
Mswipe Technologies on Monday said that it has been granted payment aggregator (PA) licence by the Reserve Bank of India (RBI).
This comes after the company received an in-principle nod from the central bank to operate as a PA in August 2022.
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Offering CollegeCourseWebsiteIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisitIndian School of BusinessISB Product ManagementVisitIIT DelhiIITD Certificate Programme in Data Science & Machine LearningVisitAccording to RBI’s website, as of February 16, a total of 16 entities have been granted final PA licences in the country including merchant payment solutions provider Juspay, Razorpay, fintech Stripe, search behemoth Google, neo-bank Open among other entities. Software major Zoho and food-delivery company Zomato are others to have received their licences.
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«With a continued commitment to our business partners and the merchant community at large, we stay true to our promise of providing innovative omni-channel digital payments with cutting-edge technology,” said Ketan Patel, cofounder and chief executive, Mswipe Technologies.
After receiving the in-principle nod, Mswipe was looking to pilot its payment gateway stack with its existing merchant base. It was looking to become a full-stack payments player, diversifying from offering offline merchant acceptance devices.
Through its PG offerings, it was looking to target the mid-tier segment, including businesses with a turnover of Rs
