PayGlocal Receives In-Principle Approval from RBI for Payment Aggregator License

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.

Company Background:

• Founded in 2021 by Prachi Dharani, Rohit Sukhija, and Yogesh Lokhande.
• PayGlocal provides technology solutions for payment processing and transaction risk management.

Regulatory Advancements:

• 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.

Comprehensive Services:

• 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.

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