PNN
New Delhi [India] November 19: MMAD Communications, a leading technology solutions provider in digital payments, announced that it is launching a new payment aggregator brand 'Mpay', post its receiving final authorization to this effect from the Reserve Bank of India (RBI). Mpay will enable businesses and consumers to access a suite of secure, scalable, and innovative payment solutions that adhere to the highest regulatory standards set by the RBI and be assured of the highest and most trusted service standards of MMAD.
Since 2018, MMAD has leveraged its experience managing high-volume transactions, particularly for the Indian Railway Catering and Tourism Corporation (IRCTC), to bring trusted, high-performance payment solutions to the rapidly growing digital payments market. In 2021, MMAD Communications applied for an RBI 'Payment Aggregator' license, marking a significant step toward expanding its footprint in digital payments. On October 24, 2024, the RBI granted final authorization, allowing MMAD to 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."
Mpay aims to redefine digital transactions, offering a suite of services tailored to meet the growing demands of businesses and consumers across various sectors. With the new authorization, MMAD Communications is well-positioned to lead the digital payments landscape in India, combining regulatory compliance with technological excellence.
About MMAD Communications Pvt Ltd
MMAD Communications Pvt Ltd is a premier technology solutions provider known for its expertise in high-volume payment processing. Since 2018, it has served as the Technical Service Partner for IRCTC's IPay payment gateway, managing transit transactions with one of the highest success rates in the industry. With the launch of its new brand, Mpay, MMAD is set to bring reliable, innovative payment solutions to a wider market as an RBI-authorized Payment Aggregator.
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