In a significant development for India's fintech sector, PayG, a Hyderabad-based payment gateway, has secured the final approval from the Reserve Bank of India (RBI) to operate as a licensed payment aggregator. This achievement marks a pivotal moment for the homegrown company, reinforcing its position in the rapidly growing digital payment landscape.
Founded in 2020, PayG has quickly emerged as a trusted name, partnering with over 1,000 SMB merchants and more than 50 enterprise clients. The company offers a robust platform supporting over 120 payment methods, catering to a diverse range of businesses from urban centers to small-town traders.
The RBI license empowers PayG to deliver seamless and compliant digital payment solutions, aligning with its mission to build an inclusive and innovation-driven payment ecosystem. This approval is a testament to the company's commitment to security and scalability in India's digital economy.
PayG aims to empower the nation's economic backbone—micro, small, and medium enterprises (MSMEs)—by breaking down barriers to digital commerce. The company is focused on enabling businesses of all sizes to adopt digital payment systems effortlessly.
This milestone not only strengthens PayG's credibility but also positions it as a key player in fostering financial inclusion across India. With the license in hand, the company is set to expand its network and enhance its offerings for merchants and consumers alike.
As India's fintech sector continues to evolve, PayG's achievement highlights the growing importance of regulatory compliance and innovation in shaping the future of digital transactions. The Hyderabad-based firm is poised for further growth, contributing to the country's digital transformation journey.
Andrew Lee
