Mswipe Technologies secures RBI’s Payment Aggregator license

By Gloria Mathias

Mswipe Technologies, India’s digital payments company, has been granted a payment aggregator (PA) license by the Reserve Bank of India (RBI).

The announcement comes after the digital payments company received an in-principle nod in mid-2022. With this, Mswipe will offer full-stack payment technology, providing omni-channel solutions, thereby continuing to contribute towards India’s evolving digital payments landscape.

The payment aggregator license solidifies the company’s objective to enhance its suite of offerings while delivering secure, efficient, and user-friendly payment technology to banking partners, enterprises, and merchants across categories.

Ketan Patel, Co-founder & CEO, Mswipe Technologies said, “I am thrilled to announce our latest milestone of receiving approval for our payment aggregator license from the RBI. With a continued commitment to our business partners and the merchant community at large, we stay true to our promise of providing innovative omnichannel digital payments with cutting-edge technology. Mswipe will continue to empower businesses of all sizes and categories across India, including the smallest towns and cities, making an impact in the increasingly cashless economy.”

Mswipe Technologies is an omni-channel digital payments platform providing a host of offline and online payment acceptance solutions to merchants across categories across all regions. Headquartered in Mumbai, Mswipe began operations in 2011. Its investors include Alpha Wave Global, Matrix Partners, B Capital, DSG Consumer Partners, Epiq Capital, UC-RNT, and Ola.

Over the last 13 years, Mswipe has been a pioneer in introducing businesses and merchants to multiple innovative payment solutions enabling the expansion of the digital payment footprint in the country across metros, mini-metros, small towns, and cities.