Goa-based fintech InstiFI has commenced merchant onboarding after receiving final authorisation from the Reserve Bank of India (RBI) to operate as a payment aggregator. With this approval, InstiFI becomes the only payment aggregator headquartered in Goa, marking a notable development in the state’s growing digital payments ecosystem.
InstiFI provides an integrated suite of digital payment solutions, including card payments, UPI, net banking, and virtual accounts, built on an API-led and compliance-focused infrastructure. The platform is designed to offer secure and frictionless transactions for businesses across the country.
A key differentiator for InstiFI is its human-first customer support model. Instead of relying heavily on automated systems or bots, the company emphasises real-time, personal assistance, a strategy that has strengthened merchant trust and enabled faster problem resolution.
The company is targeting small and medium businesses (SMBs) across both urban markets that require scalable payment rails and enterprises in underserved regions that lack reliable digital solutions.
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Commenting on the milestone, Prakash Ravindran, CEO and Director of InstiFI, said,
“Going live as a licensed payment aggregator is the beginning of what we envision for InstiFI. Our goal is to build a trusted digital payments ecosystem that simplifies transactions for businesses of all sizes. As we expand, we aim to onboard over 500 merchants, enhance our payment gateway capabilities, and introduce new features focused on speed, security, and compliance. This milestone strengthens our vision of positioning InstiFI as India’s ‘Gateway of Trust’.”
InstiFI’s leadership team includes industry professionals Mohit Aggarwal (Co-founder), Anushree Chandra (CBO & Director), Arbaaz Jamal (COO & Director), and Faisal Nomani (Director). Their combined experience spans digital finance, technology, product innovation, and regulatory compliance, forming an important foundation for InstiFI’s long-term growth strategy.
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