JPMorgan-Backed ISG Secures RBI Approval To Operate As Payment Aggregator

The RBI approval enables ISG to enhance digital payment solutions for merchants across various industries, ensuring fast, secure, and efficient transactions

The company currently processes over 28 billion transactions annually and serves more than 70 per cent of banks in India

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In-Solutions Global (ISG), a fintech company backed by JP Morgan, has received full authorisation as a Payment Aggregator (PA) under the Reserve Bank of India’s (RBI) regulatory framework. India has a rapidly expanding digital payments sector, which is projected to surpass $10 trillion by 2026.

The RBI approval enables ISG to enhance digital payment solutions for merchants across various industries, ensuring fast, secure, and efficient transactions. The company currently processes over 28 billion transactions annually and serves more than 70 per cent of banks in India.

Speaking about the development, Adelia Castelino, co-founder & managing director, said, “This milestone reflects our relentless commitment to compliance and innovation. It strengthens our position as a trusted partner, enabling us to power enterprises and SMBs with cutting-edge, scalable payment solutions.”

The license further enhances ISG's expanding portfolio, which includes its Prepaid Payment Instrument (PPI) license. This allows the company to provide a comprehensive range of payment solutions across online platforms, retail transactions, transit payments, and beyond.

Ranjeet Jaiswal, senior VP of business, said, “This regulatory approval positions us to scale our operations, drive innovation, and deliver exceptional experiences through our world-class payments stack. Our aim is to empower both merchants and consumers with smooth, efficient transactions, fueling the growth of India’s digital economy while remaining deeply committed to customer satisfaction and continuous innovation."

Meanwhile, in November, ISG received authorisation from the RBI to establish a payment system for issuing and operating Prepaid Payment Instruments (PPI). This approval was granted under the Payment and Settlement Systems Act.

Additionally, JPMorgan Payments and In-Solutions Global Ltd. (ISG) teamed up to launch their digital commerce solution, 'ONDC made easy'. This collaboration integrates ISG’s ONDC technology and Protean’s support with JPMorgan’s banking services in India. The new solution enables JPMorgan’s corporate clients to join the Open Network for Digital Commerce (ONDC) seamlessly and begin selling directly on the platform.