ISG secures RBI nod across all payment aggregator categories

By Puja Sharma

In-Solutions Global Ltd (ISG has received regulatory authorisation from the Reserve Bank of India (RBI) across all three Payment Aggregator categories: Online (PA-O), Physical/Offline (PA-P), and Cross-Border (PA-CB), under the latest RBI Master Directions for 2025–26.

With these approvals, ISG joins a select group of non-bank ecosystem players enabled to support merchant payments across domestic and international channels through a unified and fully compliant framework.

Together, the three licences allow ISG to offer enterprises, banks, marketplaces and digital platforms a single payment aggregation stack capable of managing online transactions, in-person payments and cross-border import-export flows within a unified onboarding and settlement environment.

Adelia Castelino, Co- founder and Managing Director, ISG said, “These approvals reaffirm ISG’s long standing commitment to regulatory excellence, security and scalable payment innovation. As India’s digital commerce and cross-border trade accelerate, merchants and financial institutions need partners that are fully compliant and future-ready. ISG is proud to deliver exactly that.”

With the PA-O and PA-P approvals, ISG will expand its omnichannel merchant acceptance capabilities through a unified onboarding and settlement framework across digital and physical environments. This includes the deployment of SoftPOS and proximity-based payment solutions to accelerate in-person acceptance, deeper integrations for marketplaces and platforms covering tokenisation, payouts, refunds, chargebacks and reconciliation, as well as bank-led and fintech-led acquiring programmes built on ISG’s global switching and payment infrastructure.

In addition, the PA-CB authorisation, together with ISG’s IFSCA licence and international regulatory capabilities, positions the company to support compliant cross-border payment flows across multiple jurisdictions. This will enable faster activation of global payment corridors for enterprises and MSMEs, streamlined KYC and KYB processes, more transparent settlement workflows, unified reconciliation for global collections and payouts, and end-to-end compliance across trade regulations, sanctions screening and documentation. These capabilities are expected to support India’s growing export–import ecosystem and the increasing demand for seamless global payment infrastructure.

The RBI’s consolidated Payment Aggregator framework strengthens governance, cybersecurity, risk management, capital adequacy and consumer protection standards for non-bank intermediaries. ISG’s authorisation across all three categories ensures consistent compliance and operational integrity across every payment channel, positioning the company to support the next phase of India’s digital commerce and cross-border payments growth.