MMAD Communications launches Mpay, a new RBI-approved payment aggregator

MMAD Communications, a prominent provider of technology solutions in digital payments, has announced the launch of its new payment aggregator brand, ‘Mpay,’ following the receipt of final authorization from the Reserve Bank of India (RBI). Mpay will offer businesses and consumers a range of secure, scalable, and innovative payment solutions that comply with the highest regulatory standards set by the RBI, backed by MMAD’s trusted service excellence.

Since 2018, MMAD has built its expertise in managing high-volume transactions, particularly for the Indian Railway Catering and Tourism Corporation (IRCTC), enabling the company to deliver reliable, high-performance payment solutions in India’s expanding digital payments sector. In 2021, MMAD applied for the RBI's ‘Payment Aggregator’ license, a significant milestone in the company’s growth strategy. On October 25, 2023, the RBI granted final approval, allowing MMAD to officially launch and market its payment solutions under the Mpay brand.

“We are delighted to introduce Mpay as a comprehensive digital payment solution which is backed by our years of technical expertise and a commitment to excellence and reliability,” said Pankaj Gambhir, Director, MMAD Communications.

“With RBI’s authorization, Mpay will help drive forward our mission to deliver streamlined, user-centric payment experiences, building on the success we’ve demonstrated earlier. We hope to actively build the payments market in India and be an active partner in leading the country’s march to be a global digital payments leader,” he stated.

Mpay is set to transform digital transactions by providing a comprehensive range of services designed to meet the evolving needs of businesses and consumers across multiple sectors. With the recent authorization, MMAD Communications is strategically positioned to lead India’s digital payments market, merging regulatory adherence with cutting-edge technology.