This achievement supports PayG’s commitment to developing a secure, inclusive, and innovation-based payment infrastructure for India’s digital economy. With the licence, PayG is currently fully authorised to continue providing compliant digital payment solutions to its network of merchants and consumers.
The Payment Aggregator licence granted by the RBI is set to support PayG’s mission to create a payment ecosystem that promotes inclusivity and scalability, while also advancing the operations of micro, small, and medium-sized enterprises (MSMEs), India’s economic pillar. The company seeks to mitigate barriers to digital commerce, optimising how businesses operate in the region’s digital economy.
Commenting on the news, representatives from PayG underlined that securing the RBI’s authorisation highlights their company’s commitment to regulatory compliance, transparency, and advancement in the fintech sector. Additionally, PayG plans to continue transforming the digital journey for MSMEs and retailers by facilitating user-friendly, secure, and affordable payment solutions, in turn helping them join the digital economy. The company’s offering includes approximately 120 payment options, including credit cards, debit cards, net banking, and wallets, ensuring that transactions are accessible and cost-effective, without implementing hidden fees.
Furthermore, PayG is working on expanding its collaboration with the Open Network for Digital Commerce (ONDC). After the trader onboarding drive in the city of Pune, PayG aims to replicate this move in other markets across India, seeking to optimise digital commerce entry for MSMEs. These endeavours are facilitated by localised outreach programmes and events developed to support merchants in having a better understanding of and adopting digital payments.
PayG’s roadmap includes the investment in product upgrades, security frameworks, and tools designed for MSMEs and retailers. According to the company, upcoming capabilities include advanced analytics, simplified credit facilitation services, integration with popular business platforms for end-to-end solutions, and payment experiences personalised to small business needs.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now