PayGlocal Technologies

PayGlocal Technologies, founded in 2021 by Prachi Dharani, Rohit Sukhija, and Yogesh Lokhande, is a fintech company based in Bengaluru, India, that specializes in cross-border payment solutions. The founders leverage their extensive backgrounds in the payments industry, including roles at Visa, to address the complexities of international transactions for Indian merchants. Prachi Dharani, a Chartered Accountant who serves as CEO, previously held leadership positions at ICICI Bank, First Data India, and Visa. The founding team's collective experience informs the company's approach to creating a robust platform for global commerce.

The company targets Indian businesses, including enterprises, exporters, and merchants in sectors like retail, travel, education, and SaaS, that need to accept payments from international customers. PayGlocal provides a technology platform that facilitates the acceptance of foreign credit and debit cards, along with over 30 global payment methods like Trustly and Klarna, in more than 50 currencies. Revenue is generated through transaction fees, specifically the Merchant Discount Rate (MDR), which is the cost to the merchant for processing these payments. In September 2024, the company received authorization from the Reserve Bank of India (RBI) to operate as an online payment aggregator, enabling it to onboard a wider range of merchants for e-commerce transactions.

PayGlocal's core offering is a comprehensive payment processing solution designed to increase transaction approval rates, which are often low in cross-border scenarios. The platform features a smart transaction orchestration engine, multi-currency accounts, advanced fraud prevention, and detailed analytics dashboards. For merchants, this translates to higher payment success rates, reduced fraud risk, and simplified reconciliation. The system includes features like end-to-end encryption, recurring payment capabilities, and sanction screening to ensure compliance and security. PayGlocal has raised a total of approximately $17 million through two funding rounds, with major investors including Tiger Global Management, Peak XV Partners (formerly Sequoia Capital India), and BEENEXT.

Keywords: cross-border payments, payment aggregator, international payment gateway, fintech India, merchant payment solutions, global commerce, multi-currency processing, online payment aggregator, transaction success rate, fraud risk management, RBI licensed, foreign exchange services, e-commerce payments, export payments, SaaS payments, Prachi Dharani, Rohit Sukhija, Yogesh Lokhande, Peak XV Partners, Tiger Global, Bengaluru fintech