PayGlocal, a payment platform with a focus on cross-border transactions, has been granted in-principle approval by the Reserve Bank of India (RBI) for a Payment Aggregator (PA) license. This license will allow PayGlocal to onboard merchants onto its platform for online payment processing. Founded in 2021, the company offers a technology platform that facilitates secure online payments through various instruments, including cards and global alternative payment methods.
- Founded in 2021 by Prachi Dharani, Rohit Sukhija, and Yogesh Lokhande.
- PayGlocal provides technology solutions for payment processing and transaction risk management.
- RBI’s new guidelines on Payment Aggregator-Cross Border (PA-CB) mark a significant step forward in terms of regulatory framework, particularly in advancing India’s cross-border payment capabilities.
Investment and Backing:
- PayGlocal has received investments from prominent investors, including PeakXV (formerly known as Sequoia Capital India) and Tiger Global.
- PayGlocal’s technology platform offers a comprehensive suite of services to cater to the evolving needs of merchants, payment aggregators, and banks.
- These services enable secure online payments and help facilitate cross-border transactions.