Unlimit fintech firm expands into India with RBI licence

Unlimit, a global fintech company, has revealed its expansion into India. It has obtained its Online Payment Aggregator license from the Reserve Bank of India (RBI). This move marks another integral phase in the firm's international growth strategy.

Following receipt of this license, Unlimit is authorised to function as a payment service provider within India. This will enable them to offer a broad spectrum of payment services to help local businesses extend their customer reach. This strategic move comes at a key point, with India presently witnessing significant growth in digital commerce, thereby increasing the requirement for quicker and safer payment solutions.

Projected statistics from Statista indicate that in 2024, digital commerce will spearhead the region's largest electronic payments sector, with a total transaction value estimated at USD $211.30 billion. This region's total digital payments transaction value is expected to reach USD $254.60 billion in the same year, further swelling to USD $394.40 billion by 2028 at an annual growth rate of 11.56%.

Asheesh Agrawal, CEO of Unlimit India, commented on the firm's launch: "Unlimit's launch in India is a logical next step in our global expansion strategy and a testimony of our commitment to continuously empower businesses worldwide with a reliable and secure payment experience. Securing the RBI Online Payment Aggregator license is a significant moment for us, allowing us to support the evolution of the local digital payments landscape and to bring our comprehensive suite of payment solutions to the local business community."

The attainment of the RBI licence follows in quick succession after Unlimit was granted its Bank of Tanzania (BOT) license, thus enhancing its presence within the African region. Founded in 2009, Unlimit has been instrumental in delivering solutions designed to alleviate financial borders, thereby endorsing the smooth functioning of businesses on both local and international platforms. The company, with its large array of financial services, including payment processing and an on-ramp fiat solution for crypto, DeFi, and GameFi, continues to enable businesses to operate with ease across Europe, the UK, LatAm, APAC, and Africa.

Unlimit's expansion into India marks a significant milestone in its global growth trajectory, following closely on the heels of its recent licensing success in Africa. By securing the RBI Online Payment Aggregator license, Unlimit demonstrates its commitment to fostering financial inclusion and facilitating seamless transactions for businesses in India's burgeoning digital commerce landscape.

With a comprehensive suite of payment solutions and a track record of empowering businesses across multiple continents, Unlimit is poised to play a pivotal role in shaping the future of digital payments in India and beyond. As the company continues to bridge financial borders and expand its footprint worldwide, its mission of providing reliable, secure, and innovative payment experiences remains unwavering.