Getepay Secures RBI Authorization to Transform Digital Payments in India
Getepay, a prominent digital payments platform and merchant service provider, has officially received authorization from the Reserve Bank of India (RBI) to operate as an online payment aggregator. This milestone positions Getepay as the first fintech company from Rajasthan to obtain this crucial license, marking a significant step in the evolution of digital finance in the region.
Since its inception, Getepay has integrated over 1.5 million merchants into its platform, catering to a diverse array of businesses, including KIRANA stores, e-commerce sites, educational institutions, service providers, and small manufacturers. The platform is dedicated to empowering small and medium-sized enterprises (SMEs) with streamlined digital payment solutions, enhancing both accessibility and security.
Expansion Plans Following RBI License
With the RBI license secured, Getepay is poised for national expansion. The company aims to enhance its product offerings and onboard more small businesses, specifically targeting level 2 and level 3 enterprises and those in rural areas. This strategic move will foster a more inclusive digital economy across India.
Pravin Sharma, founder and CEO of Getepay, stated, “This approval goes beyond regulatory compliance; it validates our unwavering commitment to creating a truly inclusive digital economy. Every small merchant in India deserves access to simple, secure, and scalable digital tools, whether they are situated in remote villages or bustling cities.”
A Promise to Empower MSMEs
Getepay aims to deepen its impact by providing not only payment solutions but also facilitating complete trade operations. Mahavir Pratap Sharma, a supportive investor, emphasized that “Getepay is more than just another fintech company; it is deeply rooted in Bharat, addressing real structural challenges. This RBI license enhances their credibility and positions them to reshape how small merchants participate in India’s digital landscape.”
Strategic Focus Areas for Growth
Getepay’s growth strategy revolves around five key priorities:
- Merchant Activation: Expanding service offerings to include digital storefronts, inventory management tools, GST billing, and tailored business management solutions.
- MSME Formalization: Supporting the digital formalization of over 10 million micro and small businesses, contributing to GDP growth in the informal sector.
- Job Creation: The scaling of agent networks and support teams is expected to generate significant employment opportunities across the nation.
- Inclusive Growth: Committing to support women-led businesses, rural entrepreneurs, and micro-enterprises by improving access to essential digital financial services.
- Technological Adaptation: Designed for low bandwidth areas, the platform is mobile-first and language-agnostic to ensure broader accessibility.
Conclusion
With its RBI authorization, Getepay is set to play a transformative role in the fintech landscape of India, focusing on empowering small merchants and fostering economic growth. By leveraging technology and emphasizing inclusivity, Getepay aims to contribute significantly to a thriving digital economy that benefits all segments of society.