RBI Grants Final Authorization to Paysharp, Boosting B2B Payment Solutions in India

Tamil Nadu-based fintech app Paysharp has received final authorisation from the Reserve Bank Of India(RBI) to continue as an online Payment Aggregator on 30th August 2024. This authorisation places Paysharp among the trusted payment gateways in India.

Paysharp is an ISO 27001:2022 and SOC 2-accredited entity. Paysharp focuses on government entities, small and medium-sized enterprises (SMEs), non-banking financial companies (NBFCs), E-commerce, and other B2B entities.

“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” said Paysharp Founder and CEO Krishna Kumar Mani.

What is Paysharp?

Paysharp provides payment gateway solutions for businesses to merchants, founded in 2019 by Krishna Kumar Mani and Satish S. Paysharp. Paysharp has received a total funding of Rs. 23 crore in two rounds of funding with a Rs. 200 crore valuation.

Business-to-business (B2B) payments are different from business-to-customer (B2C) payments, the number of transactions here is less, but the value is high. The pain points in B2B payment settlements are, transaction charges, as the value is high, and settlement time. Paysharp provides various B2B payment solutions like flat pricing and the platform also offers same-day settlements.

What is UPI Circle and how does it work?

Products offered by Paysharp

UPI solution: The platform offers ready-to-use UPI APIs and plugins that merchants can use to collect payments on their websites and apps.

Virtual Account Set-up: Merchants can create virtual accounts and start accepting payments in NEFT, IMPS, and RTGS with their virtual account API.

Link Payments: Merchants can share payment links and can get paid instantly with the link.

Conclusion

With RBI’s final authorisation, Paysharp enhances credibility and trust among its consumers. Paysharp is committed to providing the best payment gateway solution with its flat pricing alternative to percentage-based pricing; ultra-fast settlements with same-day settlement and T+1 settlement based on product; and outstanding customer support, Apart from email and telephone, the platform provides a dedicated relationship manager for every merchant.

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