Chennai based Fintech Paysharp has received final authorisation from the Reserve Bank Of India (RBI) to act as a payment aggregator (PA)
Paysharp is an existing PA, which received RBI final authorisation on 30th August 2024 Friday followed by the in-principal PA license on December 2022. Paysharp is a 5 years old startup, raised two rounds of funding sum of 23 crores, last funding round was on March 2023 with the valuation of 200 crores. Paysharp holds ISO 27001:2022 and SOC 2 accreditations.
With RBI’s final PA authorization, Paysharp is part of Indi’s Payment System, it helps Paysharp to extend to more merchants. Paysharp is one of authorised Payment Aggregator from Tamil Nadu. As on date RBI has authorized 36 payment aggregators including Razorpay, Cashfree and Stripe.
Paysharp’s Founder and CEO said “It is great pride to be a part of the India’s Payment system, We understand the value and responsibility of the authorization, we will continue provide simple and safe payments to business at flat price alternative to percentage based pricing”.
Paysharp is providing flat pricing to merchants alternative to percentage based pricing followed by other PAs. Paysharp is focusing on non-card-based payments like UPI and Virtual account based solution for NEFT / IMPS / RTGS collection. Paysharp also provides products such as Link Payment and Payment Pages powered by UPI. Paysharp is focusing on Government sector, B2B, NBFC, SMBs and now extending to e-commerce segment. Paysharp is not dealing with card-based payments working with India based payment methods so flat pricing is possible across all the products.
Paysharp recently launched two products Link Payment and Payment Pages powered by UPI. Using link payment product merchant can create and send payment links to customers via WhatsApp, SMS and e-mail and collect payments instantly at flat price alternative to percentage pricing. Payment pages product help merchants to create custom payment pages with fields and forms to accept payments from customers with fields.
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