PayGlocal secures US FinCEN registration

PayGlocal has registered as a Money Services Business (MSB) with the US Financial Crimes Enforcement Network (FinCEN), it said in a statement.

The registration marks a new step in PayGlocal’s international expansion. The company already enables Indian businesses to accept payments from customers in the US and other international markets through its cross-border payments platform.

PayGlocal said that the FinCEN registration will help it build the compliance, banking and payments infrastructure needed to support its US operations. It plans to expand its regulatory footprint across other international markets as it builds a broader multi-country payments network for Indian businesses.

"Our FinCEN registration is an important first step in building a stronger international foundation for PayGlocal and in supporting businesses as they expand into the US and other global markets," said Prachi Dharani, co-founder & CEO, PayGlocal.

PayGlocal said it has processed more than $4.5 billion in transactions to date and currently serves over 10,000 merchants across 180-plus countries. The company said the US is a key market for its expansion given the scale of the India-US trade corridor, with bilateral goods and services trade reaching $239.6 billion in 2025.

The company’s platform enables businesses to accept international payments through cards and local payment methods, while also offering multi-currency accounts for receiving funds in key currencies.

The company’s application for a licence in GIFT City is also currently in progress.

Founded in 2021 by Dharani, Rohit Sukhija and Yogesh Lokhande, PayGlocal is backed by Tiger Global and Peak XV. It is licensed by the Reserve Bank of India as a Payment Aggregator-Online (PA-O) and Payment Aggregator-Cross Border (PA-CB) for inward and outward transactions.