SabPaisa (SRS Live Technologies Private Limited), a leading payment solutions provider, on June 21 said it has received final approval from the Reserve Bank of India (RBI) to function as a Payment Aggregator (PA) under the Payments and Settlement Systems Act, 2007.
“Securing the final approval from RBI marks a significant milestone for 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,” said Pathikrit Dasgupta, CEO of SabPaisa.
Introduced in March 2020, RBI’s payment aggregator framework mandates that only authorized entities can provide payment aggregation services to merchants. This means SabPaisa has now joined the likes of Juspay, Razorpay, Stripe, neo-bank Open and others in receiving the RBI nod for a payment aggregator authorization.
SabPaisa has experienced remarkable growth over the past two financial years, witnessing a 2X increase in revenue and forecasting the same for 2024–25. With headquarters in New Delhi and operational presence across the country, SabPaisa is trusted by thousands of merchants, including major enterprises, banks, and government institutions.