Paysharp, Chennai-based fintech startup, has received the final nod from the RBI to function as a Payment Aggregator. The major development comes after the in-principle approval given by the RBI in December 2022 and puts the company in the league of top payment aggregators in the country.
Krishna Kumar Mani, founder and CEO of Paysharp, said he was really proud to be part of the payment system in India. The CEO assured that the company was committed to providing innovative, simple, and highly secure payment solutions to businesses at an unbeatably competitive flat rate. With this license, Paysharp will be able to scale up operations and actually make a difference in the Indian fintech landscape.
PaySharp offers non-card-based payment-related solutions and supports UPI, virtual account-based NEFT/IMPS/RTGS collections, among other services. Services range across government, B2B businesses, NBFCs, SMBs, and e-commerce. Paysharp’s flat pricing model represents an excellent economic alternative to the traditional percentage-based fee structure of banks, which for a large number of transactions would prove inordinately expensive.
