Mswipe Technologies, a prominent player in India’s digital payments industry, has secured a coveted Payment Aggregator (PA) license from the Reserve Bank of India (RBI), allowing the company to facilitate both online and offline transactions. The license positions Mswipe among a handful of fintech firms authorized to provide end-to-end payment solutions to merchants across the country.
According to a report titled “Mswipe Gets Payment Aggregator Licence for Online, Offline Payments” published by startupnews.fyi, the approval marks a crucial regulatory milestone for the Mumbai-based company, enabling it to expand its services in compliance with the RBI’s stringent norms designed to enhance consumer protection and payment system integrity.
The company confirmed the development, stating that the PA license will allow Mswipe to directly onboard merchants and process payments without relying on third-party aggregators, thereby streamlining service delivery and improving operational control. This move is expected to bolster Mswipe’s product ecosystem, which already includes point-of-sale (POS) terminals, QR-code-based solutions, and mobile payment technology.
Rajiv Ahuja, Mswipe’s CEO, emphasized that the license enhances trust among merchants and underscores the company’s commitment to a compliant, secure digital payments framework. “This will empower us to offer an integrated and seamless payment acceptance experience to businesses of all sizes,” he noted in a statement cited by multiple industry sources.
The RBI has been tightening supervision over the digital payments space amid a surge in online transactions and rising concerns over security and data protection. The central bank introduced the PA framework in 2020, requiring companies to obtain formal authorization to operate as intermediaries in payment processing. The move aims to weed out unstable or non-compliant entities while ensuring a secure and reliable payments infrastructure.
Receiving the RBI’s approval is no small feat, given the detailed scrutiny fintech firms undergo during the licensing process, which includes capital adequacy, security protocol assessments, and compliance with anti-money laundering regulations. Mswipe’s inclusion among RBI-approved aggregators signals its ability to meet these financial and technological benchmarks.
Established in 2011, Mswipe has played a significant role in democratizing digital payment acceptance in India, particularly among small and medium-sized enterprises. With the new license in place, analysts suggest that the firm could accelerate its growth trajectory and strengthen its competitive position against other leading aggregators in India’s rapidly evolving fintech landscape.
As digital adoption continues to surge nationwide, Mswipe’s regulatory endorsement underscores the increasing importance of institutional trust and compliance in shaping the next phase of the country’s fintech expansion.
