RBI Grants Getepay to Function as Online Payment Aggregator
The Reserve Bank of India (RBI) has granted Getepay, a digital payments platform with its headquarters in Jaipur, final clearance to function as an online Payment Aggregator (PA).
The company can now lawfully offer payment services and complete digital solutions across India thanks to the clearance, which was given under the RBI's payment regulation framework.
More than 1.5 million merchants have already benefited from Getepay, which was founded to promote small and medium-sized businesses. Kirana shops, small retailers, online retailers, service companies, educational institutions, and regional manufacturing are examples of these merchants. Due to their restricted access to contemporary digital media, the site has been mostly helping merchants in Tier 2, Tier 3, and rural India.
With its new RBI license, Getepay plans to grow its business activities throughout India. In addition to offering a comprehensive array of digital services tailored to the unique requirements of the merchants it serves, the platform hopes to onboard thousands more small businesses to its system.
The program offers services that will assist entrepreneurs run their companies more effectively and expand their companies faster so they can compete in the current digital economy.
“We started Getepay with the belief that every small merchant in India, whether in a remote village or a bustling city, deserves access to simple, secure, and scalable digital tools. With this RBI license,” said Pravin Sharma, Founder and CEO of Getepay “ we are now ready to deepen that impact, scale across Bharat, and empower MSMEs with not just payments but complete commerce enablement. This is about building a digital foundation for India’s next wave of economic growth.”
In addition to handling digital payments, Getepay is also broadening its range of services. The business intends to introduce further services in the upcoming months, such as GST billing modules, inventory management systems, and digital storefronts. These tools are made with the intention of giving small business owners all the resources they need to operate their companies in a contemporary, digital way.
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Getepay now anticipates formalizing more than 10 million MSMEs in the upcoming years with this new approval. Its objective is unmistakable: to enable businesses at the local level and integrate them into India's developing digital economy. Additionally, the corporation is creating educational initiatives to help business owners comprehend the advantages of digital transformation, which should boost their confidence in cashless transactions. This will promote a digital economy that is more inclusive and benefits all facets of society.