PayGlocal, a leading cross-border payment solutions provider, has received final authorisation from RBI to operate as an online payment aggregator.
The company will offer a comprehensive suite of payment solutions that cater to a diverse range of businesses, ensuring seamless, secure and efficient transaction processing along with ensuring a hassle-free payment experience for the end customers.
Prachi Dharani, CEO and Co-founder, PayGlocal, said the company is now ready to serve a wider range of merchants, offering them robust, compliant and secure payment solutions that will help them grow and thrive in the digital economy.
This authorisation marks the beginning of an exciting new chapter for PayGlocal, she said.
Ashish Agrawal, Managing Director, Peak XV, said the company has been pre-launch partners with the PayGlocal team and impressed by their commitment to serve the varied needs of cross border payments.
PayGlocal remains committed to driving innovation, security, and inclusivity in the digital payment ecosystem, it said.
The company will continue to partner with businesses, banks and other key players in the payment ecosystem to redefine the future of digital commerce, it added.
Founded in 2021 by former Visa senior directors Prachi Dharani, Rohit Sukhija, and Yogesh Lokhande, the company offers a comprehensive suite of payment services and cutting-edge technology platform for payment processing and transaction risk management, specifically designed to meet the evolving needs of merchants, partners and banks.
The start-up has successfully raised $17 million in equity funding from marquee investors.