RBI has awarded a Payment Aggregator license to Mswipe Technologies.

Mswipe Technologies, a digital payments firm, has recently been granted the payment aggregator (PA) license by the Reserve Bank of India (RBI), following an initial approval in August 2022. This license allows Mswipe to offer comprehensive payment technology solutions across various channels. According to Mswipe, obtaining the PA license reinforces their commitment to expanding their range of services while prioritizing secure and user-friendly payment technologies for their banking partners, businesses, and merchants across different sectors.

Mswipe now joins a list of companies including Zomato, Decentro, Zoho, Juspay, Razorpay, Cashfree, Open, and Enkash, which have also received approval from the RBI to operate as online payment aggregation platforms. As an omni-channel digital payments platform, Mswipe offers a variety of offline and online payment acceptance solutions to merchants spanning various industries. Notable investors in the Mumbai-based company include Alpha Wave Global, Matrix Partners, B Capital, DSG Consumer Partners, Epiq Capital, UC-RNT, and Ola.

In terms of financial performance, Mswipe saw a 13.69% increase in revenue from operations, reaching Rs 274 crore in FY23 compared to Rs 241 crore in FY22. Additionally, the company's losses decreased by 45.36%, amounting to Rs 49 crore in FY23 compared to Rs 90 crore in FY22.