Paysharp, a payment aggregator authorised by the Reserve Bank of India, has announced that Karthick R will be its new Chief Executive Officer (CEO). He will take over the role in the current financial year, according to an official statement.
The company’s founder, Krishna Kumar Mani, will step down as CEO and move into the role of Chairman. In this new position, he will continue to guide the company’s long-term strategy and growth, as per the statement.
As CEO, Karthick R will lead the company’s next phase of growth. His focus will be on bringing in more merchants, improving products, and building stronger partnerships with banks, businesses, and digital platforms.
“This transition marks an important step in Paysharp’s growth journey. There is no change in the company’s shareholding pattern as part of this leadership transition. We are actively planning for venture capital funding in the coming months and are also expanding our leadership team to support our next phase of growth,” Krishna Kumar Mani, Chairman, Paysharp, said.
Karthick brings strong experience from the banking sector. He has previously worked with Axis Bank and other well-known organisations, where he handled government and institutional clients.
He also has strong experience in payment aggregation across both online and offline platforms, which will help improve transaction solutions and customer experience.
“Karthick ‘s strong banking background and experience in merchant acquiring business will add significant value as we scale our platform. We also reaffirm our commitment to our merchants, customers, employees, banking partners, and stakeholders for their continued trust and support,” Co-founders Sathish S and Kannadas Muthusamy added.
Paysharp has secured final authorisation from the RBI to operate as a Payment Aggregator (PA). The approval, granted in August, 2024, comes after the company received its in-principle licence in December 2022. With this, Paysharp joins a group of 36 RBI-approved payment aggregators, alongside major players such as Razorpay, Cashfree, and Stripe.
The startup primarily focuses on non-card-based payment solutions, offering services such as Unified Payments Interface (UPI) and virtual account-based collections for NEFT, IMPS, and RTGS transactions. Paysharp’s services are designed to cater to a wide range of sectors, including government entities, B2B businesses, non-banking financial companies (NBFCs), small and medium-sized businesses (SMBs), as well as the rapidly growing ecommerce segment.