• Mswipe receives RBI approval to operate as a payment aggregator across both online and offline payment channels
• The license enables the company to support inward and outward cross-border payment aggregation under a single framework
• The move strengthens Mswipe’s omni-channel payment offerings for MSMEs and enterprises operating across physical and digital platforms

Mumbai-based digital payments company Mswipe Technologies has received the Reserve Bank of India’s final Payment Aggregator (PA) license, allowing it to operate across both online and offline payment channels. The approval marks a major milestone for the company as it looks to scale its omni-channel payments business.

With the license in place, Mswipe can onboard merchants and aggregate payments across in-store, online, and hybrid payment setups under a single regulatory framework. The approval also allows the company to facilitate both inward and outward cross-border payment flows, expanding its reach beyond domestic transactions.

Mswipe currently offers a wide range of payment solutions, including MPOS and smart PoS terminals, QR-based soundboxes, payment gateways, and embedded digital payment services. These products cater to merchants across sectors, from small businesses to large enterprises.

In recent months, the RBI has granted similar approvals to several payment firms, including Paytm, Razorpay, Easebuzz, PayU, Pine Labs, and Airpay. These licenses allow companies to offer a full stack of payment aggregation services covering e-commerce transactions, physical store payments, and cross-border flows.

According to Mswipe, the RBI clearance will help it expand services for MSMEs and enterprises that operate across both physical and digital channels. The company plans to introduce additional offerings as it scales its unified payments platform.

Mswipe reported adjusted profitability in FY24, with revenue exceeding Rs 275 crore. Its total payment volume more than doubled year-on-year, driven by growing adoption of integrated online and offline payment solutions.

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Founded in 2011, Mswipe serves merchants across more than 600 cities in India. The company is backed by investors such as Alpha Wave Global, Matrix Partners, B Capital, DSG Consumer Partners, Epiq Capital, UC-RNT, and Ola.

The RBI license positions Mswipe to compete more strongly in India’s rapidly evolving digital payments ecosystem.