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Open receives final approval from RBI to operate as a Payment Aggregator

December 30, 2023

OPEN, a leading fintech for SMEs, has received the Payment Aggregator/Payment Gateway (PA/PG) license from the Reserve Bank of India (RBI).
The approval showcases OPEN’s commitment to regulatory compliance and innovation.
Having received in-principle approval in Nov 2022, OPEN completed the application process with a System Audit Report and CA certificate.
The final approval validates OPEN’s robust financial automation platforms designed to empower SMEs.
With the new license, OPEN aims to provide even more robust and seamless financial tools for SMEs.
OPEN’s Co-founder & CEO, Anish Achuthan, expressed elation, highlighting the significance of the license in fortifying their commitment to SMEs.
OPEN presently powers business payments for over 40 lakh SMEs and plans to focus on creating innovative solutions for financial processes.