PayGlocal gets RBI’s nod to operate as online payments aggregator

By Gloria Mathias

PayGlocal, a cross-border payment solutions provider, has received final authorisation from the Reserve Bank of India (RBI) to operate as an online payment aggregator.

This allows PayGlocal to officially commence merchant onboarding, further cementing its position as an emerging player in the payments landscape.

With this authorization, PayGlocal will offer a comprehensive suite of payment solutions that cater to a diverse range of businesses. These solutions will ensure seamless, secure, and efficient transaction processing and a hassle-free payment experience for end customers. This milestone comes as a result of RBI’s comprehensive evaluation process, highlighting PayGlocal’s commitment to the highest standards of compliance and security.

Prachi Dharani, CEO and Co-founder of PayGlocal said, “Receiving the final authorisation from the RBI is a testament to our commitment to excellence in the payments industry. We are now ready to serve a wider range of merchants, offering them robust, compliant and secure payment solutions that will help them grow and thrive in today’s digital economy. This authorization marks the beginning of an exciting new chapter for PayGlocal. We’re deeply grateful to the Reserve Bank of India for their guidance and support throughout this process.”

Ashish Agrawal, Managing Director, Peak XV, said, “We have been pre-launch partners with the PayGlocal team and are impressed by their commitment to solving the varied needs of cross-border payments. We are thankful to the regulator for the authorization and confident that the company will help the nation build stronger rails for cross-border payments.”

As PayGlocal continues to scale new heights in the fintech industry, the company remains committed to driving innovation, security, and inclusivity in the digital payment ecosystem.

In furtherance of RBI’s authorization, PayGlocal is poised to set new standards in offering secure, efficient, and globally accessible payment processing. As the company forges ahead, it will continue to partner with businesses, banks and other key players in the payment ecosystem to redefine the future of digital commerce.