EnKash receives Payment Aggregator License from RBI

By Gloria Mathias

EnKash, a platform for businesses facilitating corporate payments & enabling offerings for businesses, has secured regulatory approval from the Reserve Bank of India (RBI) to operate as a payment aggregator under the brand name “Olympus”.

The approval from the RBI reinforces EnKash’s commitment to compliance and adherence to the highest standards in the financial technology industry. The regulatory approval reaffirms EnKash’s position as a trustworthy player in the fintech space, and the company is now poised to bring further innovation to the B2B payment business.

EnKash is set to leverage its expertise and technological capabilities to provide businesses with seamless and secure payment solutions. The company’s approach to financial technology has already garnered recognition, and with the RBI’s nod, EnKash is ready to contribute to the growth and development of the digital payments ecosystem.

Speaking on the development, Yadvendra Tyagi, Co-founder, EnKash said, “We are thrilled to have received approval from the Reserve Bank of India, making us the first new applicant in the cohort. This affirms our unwavering commitment to maintaining regulatory standards and highlights the significance of our role in advancing the industry. The milestone also underscores our commitment to providing seamless, innovative, and reliable payment solutions, further solidifying our position as a trusted partner for businesses looking to thrive in the digital economy.”

Since its launch, the company has helped over 2,50,000 businesses digitize and decentralize their corporate payments by offering them a comprehensive suite of solutions to facilitate secure and efficient financial transactions. EnKash helps businesses optimize their spending by managing all their finances in one place.

EnKash is Asia’s Spend Management platform, which became operational in 2018. EnKash offers a complete suite of products to digitize the CFO’s office, including payables, receivables, expense management, corporate cards, employee rewards, and channel incentive automation solutions. Since its launch, EnKash has helped businesses to digitize and decentralize their payments. Over a period of 5 years, the company has processed more than a million Corporate Cards.