Mumbai, Nov 11
In-Solutions Global Ltd (ISG), a leading force in the payments industry, has been granted authorisation by the RBI to establish a payment system for the issuance and operation of Prepaid Payment Instruments (PPI).
This approval, under the Payment and Settlement Systems Act, represents a major milestone in ISG's mission to drive innovation and deliver cutting-edge digital payment solutions.
With this authorisation, ISG is poised to offer PPIs that cater to a wide array of customers, enabling secure, efficient transactions. The PPIs will empower users to load, store, and spend funds across various digital platforms, ensuring flexibility and convenience in managing everyday financial activities.
"We are delighted to receive this authorisation from the RBI," said Adelia Castelino, Co-founder and Managing Director of ISG. "PPI functionality provides users with the tools they need to manage a wide range of payment transactions. Our goal is to extend these services to those who lack access to conventional banking or card privileges, all while ensuring a secure and seamless experience. This approval marks a crucial step in broadening our reach, allowing us to deliver innovative solutions to both businesses and consumers while adhering to the highest regulatory standards."
Satyajit Khade, Senior Vice President - Innovative Business Solutions at ISG, added, "We're honoured to receive the PPI license and committed to providing innovative payment solutions that fully comply with regulations. This milestone strengthens our position as a trusted payment services provider. We plan to scale our PPI offerings to include a variety of applications for different industries including transit, education, healthcare, etc solving their payment problems."
With a legacy of providing innovative payment solutions and serving some of the largest financial institutions, ISG remains at the forefront of shaping the future of digital payments in India.
ISG was founded in 2004, and is a trusted leader in digital payment solutions, offering secure, scalable, and innovative services that empower businesses and consumers through cutting-edge technology in the payments sector payments space.