Gurgaon: MMAD Communications has rolled out its new payment service, Mpay, following the approval from the Reserve Bank of India (RBI). The company plans to offer businesses and consumers a secure and user-friendly platform for digital transactions.
MMAD has been involved in managing high-volume payments since 2018, particularly for the Indian Railway Catering and Tourism Corporation (IRCTC). In 2021, the company applied for the RBI’s Payment Aggregator licence as part of its strategy to expand in the digital payments space. The approval came on October 25, 2023, enabling MMAD to officially launch its services under the Mpay brand.
Director Pankaj Gambhir shared that Mpay aims to simplify digital payments for users while following strict regulatory guidelines. With this move, MMAD aims to cater to various industries and meet the rising demand for reliable digital payment solutions in India.
The launch of Mpay signals MMAD’s intention to compete in India’s growing digital payments market, offering new options for businesses and consumers looking for secure and efficient transaction methods.
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