Mswipe Technologies, a digital payments solutions provider, has received the final Payment Aggregator (PA) licence from the Reserve Bank of India (RBI) covering both online and physical payment acceptance modes.
With this licence, Mswipe can 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.
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.”
With this approval, Mswipe becomes a full-stack payments infrastructure and technology company from a point-of-sale device provider. 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.
