PB FinTech Enters Digital Payments: Will PB Pay Change Game For Indian Merchants?

PB Pay, the payment aggregator platform of PB Fintech Limited, has officially commenced operations and is now live for merchant registrations and transaction processing. The platform aims to simplify digital payments for businesses by bringing multiple payment methods under a single integration and dashboard.

The company said PB Pay received Payment Aggregator authorisation from the Reserve Bank of India in February 2026. With the launch, PB Fintech is expanding beyond its traditional insurance and credit businesses and entering India's rapidly growing digital payments ecosystem.

PB Pay Brings Payments Experience From Insurance Business

PB Pay is backed by more than a decade of payments experience within the PB Fintech group. The company has developed this expertise through its insurance business, where recurring premiums, payment mandates and regulatory requirements make transaction reliability particularly important. According to the company, this experience has helped shape PB Pay's focus on recurring payments, transaction reliability and compliance. These capabilities are now being extended to merchants operating across different sectors.

PB Pay Targets Fragmented Merchant Payment Systems

India's digital payments ecosystem offers customers a wide range of payment options, including UPI, credit and debit cards, net banking, wallets, EMIs and recurring payment methods. However, these payment modes often operate through separate systems and integrations, creating additional complexity for merchants.

Businesses looking to improve payment success rates may have to work with multiple providers, manage different integrations and monitor several dashboards. This can make it harder to track failed transactions, resolve disputes, manage payouts and provide a smooth checkout experience. The problem becomes more significant for businesses handling large transaction volumes, subscriptions, marketplace payments and B2B transactions. PB Pay is designed to bring these payment functions together through a single platform.

PB Pay Offers Single Integration for Multiple Payment Modes

PB Pay supports UPI, credit and debit cards, net banking, wallets, EMI and recurring payment options. These include UPI Autopay, e-Mandates and card-based subscription payments.

The platform brings different recurring payment options together through a unified interface. According to the company, customers can set up mandates through options including UPI Autopay and e-Mandates linked to debit cards, net banking and Aadhaar without having to move through separate payment flows.

Harsh Masta, CEO of PB Pay, said the platform is focused on addressing challenges around recurring payments, affordability and payment success rates. He said PB Pay is offering a comprehensive autopay stack through a single API, along with affordability options such as card EMIs, pre-approved offers and access to lending services through NBFCs and other lenders.

Intelligent Routing to Improve Payment Success Rates

One of PB Pay's key features is its intelligent routing system. The rules-based engine is designed to route transactions towards the payment gateway that is most likely to approve them while also considering processing costs. The company expects this approach to help merchants improve transaction success rates while potentially reducing their merchant discount rate costs. It also reduces dependence on a single payment provider for processing transactions.

Real-Time Dashboard for Transactions and Disputes

PB Pay also provides merchants with a centralised dashboard for monitoring transactions and accessing real-time analytics. The platform includes tools for dispute management and vendor payouts, allowing businesses to track payment activity from a single interface. The company said the dashboard is designed to give merchants greater visibility into transaction performance and help them identify issues more quickly.

Security and Compliance Remain Key Focus

Security is another major component of the platform. PB Pay said its infrastructure includes PCI DSS compliance, ISO 27001 certification, 256-bit encryption and continuous fraud monitoring. The platform operates on a Zero Trust architecture and uses continuous transaction risk monitoring. The company said this approach is aimed at identifying potential fraudulent activity at an early stage while minimising disruption for genuine customers.

Merchants Can Start With PB Pay in Minutes

PB Pay said merchants can complete the registration process and move towards live payments through a streamlined onboarding process. Businesses can complete verification, integrate through APIs and test their payment setup in a sandbox environment before going live.