Paysharp gets final nod from RBI to act as payment aggregator

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Paysharp has received RBI final authorisation to act as a payment aggregator following an in-principal licence issued in December 2022.

The five-year-old start-up has raised ₹23 crore in two rounds at a valuation of ₹200 crore.

The RBI’s final PA authorisation will help Paysharp to tap more merchants. As on date, RBI has authorised 36 payment aggregators, including Razorpay, Cashfree, and Stripe.

Paysharp is providing flat pricing to merchants as an alternative to percentage-based pricing followed by other PAs. Paysharp is focusing on non-card-based payments, such as UPI and a virtual account-based solution for NEFT/IMPS/RTGS collections.

Paysharp also provides products such as Link Payment and Payment Pages powered by UPI. Using the Link Payment product, merchants can create and send payment links to customers via WhatsApp, SMS, and e-mail, and collect payments instantly at a flat price alternative to percentage-based pricing. The Payment Pages product helps merchants create custom payment pages with fields and forms to accept payments from customers.

The fintech company is focusing on the government sector, B2B, NBFC, SMBs, and is now extending to the e-commerce segment.