DiGiSPICE Technologies Subsidiary Spice Money Secures RBI In-Principle Nod as Physical Payment Aggregator — October 24, 2026

In a regulatory disclosure submitted to Indian stock exchanges, DiGiSPICE Technologies Limited confirmed that its material subsidiary, Spice Money Limited, has been granted in-principle authorisation by the Reserve Bank of India (RBI) to operate as a Payment Aggregator-Physical (PA-P).

The approval marks a pivotal regulatory milestone for the Noida-headquartered rural fintech platform, officially bringing its extensive physical merchant acquisition and transaction-processing operations within the RBI's formal framework for offline point-of-sale payment aggregation.

Regulatory Clarity for Offline Fintech Networks

Under guidelines issued by the RBI, non-bank entities facilitating face-to-face transactions and merchant onboarding at physical points of sale are required to secure specific PA-P authorisation. The in-principle nod allows Spice Money to align its assisted-digital payment framework with standard central bank requirements, paving the way for full operational licensing upon fulfilling specified conditions.

Spice Money, founded by Dilip Modi, operates as the primary operational engine of DiGiSPICE Technologies. The platform drives assisted financial inclusion across emerging Indian markets ("Bharat") by partnering with a vast network of local nanopreneurs, branded as Spice Money Adhikaris.

Key Services Powered by the Platform:

• Aadhaar-enabled Payment System (AePS) cash withdrawals and biometric deposits

• Point-of-sale (mPOS) terminals and micro-ATM operations

• Assisted utility bill settlements via the Bharat Bill Payment System (BBPS)

• Cash management services (CMS) and domestic money transfers

Significance for Investors and Market Outlook

For equity market participants tracking DiGiSPICE Technologies, the RBI’s in-principle authorisation is seen as a substantial de-risking catalyst. Operating without formal licensing had emerged as an industry-wide concern for offline fintech networks following the central bank's tightening of merchant aggregation norms.

By securing this regulatory backing, Spice Money gains clear legal and operational runway to scale its merchant footprint, enhance partnerships with commercial banks, and roll out expanded payment acceptance tools for retail shopkeepers in Tier-2 through Tier-6 regions. The development also provides long-term operational stability as DiGiSPICE Technologies navigates its broader corporate and business restructuring initiatives.

Tags: DiGiSPICE Technologies Spice Money Reserve Bank of India Fintech Payment Aggregator BSE