InstiFI, a payment aggregator based in Goa, has commenced onboarding merchants after receiving final authorisation from the Reserve Bank of India (RBI). The approval makes InstiFI the only Goa-headquartered entity to operate as a licensed payment aggregator, marking a significant boost for the state’s emerging digital payments ecosystem.
Human-first support model
InstiFI provides a full suite of digital payment services, including credit and debit card processing, UPI transactions, net banking and virtual accounts. Built on an API-driven platform with a compliance-first approach, the company aims to offer secure and seamless payment experiences to businesses nationwide.
A key differentiator, the company says, is its human-first customer support model. Prioritising real-time, person-to-person assistance over automated bots, InstiFI positions itself as a provider of transparent and responsive support — a feature it believes will help build long-term trust among its merchant base.
The platform is targeting small and medium-sized businesses across India, from urban enterprises requiring scalable payment infrastructure to merchants in rural and underserved regions seeking dependable digital payment solutions.
Ambitions for national scale
Prakash Ravindran, CEO and Director of InstiFI, described the RBI authorisation as a foundational milestone. “Going live as a licensed payment aggregator is the beginning of what we envision for InstiFI,” he said. “Our goal is to onboard more than 500 merchants, expand our payment gateway capabilities, and introduce innovative features that enhance speed, security and compliance.”
InstiFI’s leadership team includes Co-founder Mohit Aggarwal, CBO and Director Anushree Chandra, COO and Director Arbaaz Jamal, and Director Faisal Nomani. The company says the team brings extensive experience in digital finance, technology and compliance management.
Strengthening Goa’s digital footprint
As the only Goa-based player with RBI approval, InstiFI’s launch adds momentum to the state’s growing presence in India’s fintech landscape. The company says it aims to become a national “Gateway of Trust”, offering secure and human-focused digital payment experiences to businesses across the country.
