SabPaisa, a leading payment solutions startup, has achieved a significant milestone in its journey towards transforming digital payments in India. After receiving the Reserve Bank of India’s (RBI) in-principle approval over a year ago, SabPaisa has now secured the final nod to operate as a payment aggregator (PA), marking a pivotal moment for the fintech industry.
Driving Seamless Payment Experiences
With the RBI’s final approval, SabPaisa is poised to realize its vision of delivering seamless, inclusive, and high-performance payment experiences for merchants and consumers alike. CEO Pathikrit Dasgupta expressed enthusiasm about this achievement, highlighting SabPaisa’s commitment to leveraging this opportunity to deliver unparalleled solutions and ensure future resilience.
Regulatory Landscape and Framework
The payment aggregator framework, introduced by the RBI in March 2020, signifies a paradigm shift in the digital payments ecosystem. It mandates that payment gateways secure an aggregator license to facilitate merchant acquisition and provide digital payment acceptance solutions. SabPaisa’s successful navigation through this regulatory landscape underscores its adherence to compliance and commitment to industry standards.
Growth Trajectory and Financial Health
The journey towards securing the final approval has been marked by impressive growth and financial stability for SabPaisa. The bootstrapped startup reported a significant uptick in its top line, with revenue doubling over the past two fiscal years. With profitability and sustainable growth at its core, SabPaisa is poised for continued success in FY25, expecting similar revenue growth.
Hybrid Payment Gateway Platform
Founded in 2016 by Pathikrit Dasgupta, Abhimanyu Jha, Rajiv Moti, and Kumar Manish, SabPaisa operates a hybrid payment gateway platform catering to a diverse range of merchants. Beyond traditional payment solutions, SabPaisa offers innovative services for recurring payments, offline transactions, and more, catering to the evolving needs of businesses in the digital age.
Industry Recognition and Expansion
With the RBI’s approval, SabPaisa joins the ranks of esteemed entities granted the payment aggregator license, reinforcing its position as a frontrunner in the fintech landscape. The company’s achievement aligns with the broader trend of digital innovation and regulatory compliance shaping India’s burgeoning digital payments ecosystem.
