PayGlocal Gains RBI's Nod To Operate As Online Merchant Payments Company

PayGlocal, a cross-border payment solutions provider, said that it has received final authorisation from the Reserve Bank of India (RBI) to operate as an Online Payment Aggregator. This allows PayGlocal to officially commence the onboarding of merchants, further cementing its position as one of the emergent leaders in the payments landscape, as per the press release.

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.”

With this authorization, PayGlocal said that it is set to offer a comprehensive suite of payment solutions that cater to a diverse range of businesses, ensuring seamless, secure, and efficient transaction processing along with a hassle-free payment experience for the end customers. 
 
Ashish Agrawal, Managing Director, Peak XV, said, “We have been pre-launch partners with the PayGlocal team and are impressed by their commitment to solve for 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.” 

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