Paysharp Obtains RBI's In-Principle Approval for Payment Aggregator Licence

Fintech startup Paysharp has received an in-principle authorisation from the Reserve Bank Of India (RBI) to act as a payment aggregator (PA), the startup said in a media statement on December 26.

"This will enable us to improve the capabilities of our current products and develop fresh approaches to automate the financial operations of the nation's millions of SMEs and small businesses," said Krishna Kumar Mani, cofounder and CEO of Paysharp.

Paysharp, founded in 2019 by Krishna Kumar Mani and Sathish S, offers enterprise-grade virtual account and UPI solutions for businesses to integrate with their solution or mobile app.

The Chennai-based B2B fintech platform provides a complete collection solution with branded UPI handle and customisation with all the UPI payment options such as mobile intent, collection request and dynamic QR code.

"Apart from payment gateway services, it is also providing solutions to billers to onboard as BBPS (Bharat bill payment system). Paysharp has made its way by offering the low-pricing of payment transfer which works the best for the B2B retail model," Mani said

Source: money control