SabPaisa (SRS Live Technologies Private Limited), a provider of payment solutions, has announced that it has received final approval from the Reserve Bank of India (RBI) to operate as a Payment Aggregator (PA) under the Payments and Settlement Systems Act, 2007.
This license will enable SabPaisa to offer comprehensive payment aggregation services to merchants across India. Established in 2016, SabPaisa has been known for its innovative payment gateway solutions, along with related products like Payouts and Subscriptions.
"Securing the final approval from RBI marks a significant milestone for SabPaisa," said Pathikrit Dasgupta, CEO of SabPaisa. "It underscores our unwavering dedication to excellence and reinforces our aspiration to emerge as a premier fintech entity in India. We are poised to harness this opportunity to deliver unparalleled solutions, ensuring our competitiveness and future resilience."
The RBI's payment aggregator framework, introduced in March 2020, mandates that only authorized entities can provide payment aggregation services to merchants. With this approval, SabPaisa joins the ranks of other authorized payment aggregators like Juspay, Razorpay, Stripe, neo-bank Open, and others.
SabPaisa has seen a significant growth, with a 2X increase in revenue and forecasts similar growth for the current fiscal year.
SabPaisa, officially known as SRS Live Technologies Private Limited, is a prominent player in the fintech industry, specializing in payment solutions and related services. Established in 2016, SabPaisa has carved a niche for itself by offering innovative payment gateway solutions, along with products such as Payouts and Subscriptions. The company has recently achieved a significant milestone by receiving final approval from the Reserve Bank of India (RBI) to operate as a Payment Aggregator (PA) under the Payments and Settlement Systems Act, 2007. This authorization allows SabPaisa to provide comprehensive payment aggregation services to merchants across India, further solidifying its position in the market. Led by CEO Pathikrit Dasgupta, SabPaisa aims to continue its growth trajectory and deliver cutting-edge solutions in the fintech space.
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