The RBI’s in‑principle nod allows SIGN to build and offer online payment‑aggregation services for merchants, the company said, with the formal licence to be granted after a final review.
SIGN plans to target small businesses and merchants in rural, semi‑urban and other underserved markets, offering a full suite of digital payment solutions that include a payment gateway for UPI, QR‑based payments, credit and debit cards, net‑banking, as well as digital collections, payment links and other payment‑management tools.
“Digital payments are a critical part of how small businesses from underserved markets participate in the formal economy. The Payment Aggregator authorization strengthens our ability to enter the online digital payments market and build technology‑led payment solutions for merchants,” said Atish Shelar, Group CEO of Samvriddhi Inclusive Growth Network.
Founded in 2010, SIGN operates as a Corporate Business Correspondent with a network of more than 10,000 Customer Service Points across 12 Indian states. Its current portfolio includes kiosk banking, AEPS services, direct benefit transfer facilitation, government‑scheme enrolment, financial literacy programmes, loan sourcing and recovery, and CSP deployment for banks such as State Bank of India, Punjab National Bank, Bank of Baroda, Odisha Gramin Bank, West Bengal Gramin Bank and UCO Bank.
The new PA‑Online business will be a dedicated digital offering, separate from SIGN’s existing CSP‑led assisted banking and financial‑inclusion activities, marking the firm’s expansion from last‑mile banking into the broader online payments ecosystem.