This approval is a testament to OPEN’s unwavering commitment to regulatory compliance and innovation.

After having received the in-principle approval from RBI for a PA/PG license in Nov 14 2022, OPEN has been working closely on completing the application process with the System Audit Report and CA certificate as part of the process laid down by the regulator.

The final approval is a validation of the robustness of OPEN’s financial automation platforms, and them being designed to empower Small and Medium Enterprises (SMEs). With the newly acquired license, OPEN is poised to strengthen its mission to offer SMEs even more robust and seamless financial tools.

Speaking on this, OPEN’s Co-founder & CEO, Anish Achuthan said, "We are elated to receive the Payment Aggregator/Payment Gateway license from the RBI. This approval not only acknowledges our dedication to regulatory standards but also signifies a significant leap in fortifying our commitment to SMEs. The enhanced capabilities will bolster our financial automation platforms, providing SMEs with advanced tools to streamline their financial operations and thrive in the digital era. We are grateful to the RBI for their evaluation and recognition of our contribution."

Presently, OPEN powers business payments for over 40 lakh SMEs. As the platform continues to evolve, they aim to continue focusing on creating innovative solutions that make financial processes more accessible, secure, and efficient for businesses of all sizes.