JP Morgan-backed ISG secures RBI approval to operate as payment aggregator

Don't want to miss the best from Business Standard?

JP-Morgan-backed fintech company In-Solutions Global (ISG) has secured full authorisation as a payment aggregator under the Reserve Bank of India's regulatory framework.

The approval further empowers ISG to streamline digital payments for merchants across various sectors, ensuring fast, secure, and reliable transactions while advancing financial inclusion, the fintech said in a release.

The company currently processes over 28 billion transactions annually, serving more than 70 per cent of banks in India.

Adelia Castelino, Managing Director, said: "It strengthens our position as a trusted partner, enabling us to power enterprises and SMBs with cutting-edge, scalable payment solutions."  The company further said the licence complements ISG's growing portfolio, including its prepaid payment instrument (PPI) licence, enabling it to offer an integrated suite of payment solutions spanning online platforms, retail transactions, transit payments, and more.

"This regulatory approval positions us to scale our operations, drive innovation, and deliver exceptional experiences through our world-class payments stack," said Ranjeet Jaiswal, Senior VP of Business.

ISG offers cutting-edge solutions across payment aggregation, prepaid instruments, NCMC, transit systems, and more.