Strengthens full-stack payment capabilities as the company can now facilitate inward and outward cross-border payments.
Mumbai: Mswipe Technologies, a leading Indian digital payments solutions provider, today announced that it has received the final Payment Aggregator (PA) licence from the RBI covering both online and physical payment acceptance modes. This regulatory milestone enables Mswipe to operate as a fully regulated payment aggregator, further expanding its omni-channel payments ecosystem for merchants of all sizes across India.
The RBI’s PA licence authorises Mswipe to onboard merchants and aggregate customer payment instruments across digital and in-person channels – bringing its extensive suite of digital acceptance capabilities under a unified regulatory framework. Mswipe joins a select group of fintech innovators that have secured full PA authorisation, reflecting the company’s deep commitment to compliance, security, and innovation in the digital payments landscape.
Speaking on the development, Ketan Patel, Co-founder & CEO, Mswipe Technologies, said:“Securing the Payment Aggregator licence is a landmark inflection point in Mswipe’s journey. This authorisation reinforces our vision to build a trusted, secure, and inclusive digital payments ecosystem that seamlessly serves merchants across India – whether they operate online, at physical storefronts, or in hybrid models. The licence empowers us to accelerate innovation, deepen our service portfolio, and deliver value-driven solutions that address the evolving needs of India’s MSMEs and enterprise partners alike. We remain committed to driving financial inclusion and enabling next-generation commerce with cutting-edge technology and strong regulatory alignment.”
This licence marks a pivotal step in Mswipe’s evolution from a predominant point-of-sale device provider to a full-stack payments infrastructure and technology company. Mswipe’s platform already serves hundreds of thousands of merchants across India with MPOS and Smart PoS terminals, QR soundboxes, payment gateways, and embedded digital payment services that simplify transaction flows in both offline and online environments.
In the recent financial year, Mswipe’s payments business turned adjusted profitable, recording over Rs 275 crore in revenue in FY24, with Total Payment Volume (TPV) more than doubling year-on-year, underscoring strong adoption of its omni-channel offerings.
