MMAD Communications Unveils 'Mpay' with RBI Authorization

MMAD Communications launched 'Mpay', a new payment aggregator brand, after receiving RBI's authorization. Leveraging its vast experience in digital payments, MMAD aims to offer secure and innovative solutions. The initiative is part of MMAD's mission to enhance the digital payment landscape in India, partnering in its global leadership journey.

MMAD Communications, a prominent player in digital payment solutions, announced the launch of its new payment aggregator brand, 'Mpay', after securing final authorization from the Reserve Bank of India (RBI). The company aims to deliver enhanced security and innovation with Mpay, adhering to rigorous RBI standards.

Since 2018, MMAD has utilized its expertise in handling high-volume transactions, notably for the Indian Railway Catering and Tourism Corporation (IRCTC). The firm's successful application for a 'Payment Aggregator' license from the RBI in 2021 marks a strategic expansion in the digital payments domain. On October 24, 2024, MMAD received the go-ahead to officially market Mpay.

Mpay is designed to transform digital transactions by catering to business and consumer needs across sectors. With RBI's endorsement, MMAD is set to steer the digital payments realm in India, showcasing regulatory adherence and tech innovation. Director Pankaj Gambhir emphasizes Mpay's potential to elevate user-centric payment experiences and contribute to India's stature as a digital payments leader.

(With inputs from agencies.)