Digital payments firm RNFI Services Ltd has acquired Payworld Digital Services and its wholly owned subsidiary, Smart Payment Solutions. RNFI singed a binding offer to acquire Payworld in October 2024.

This strategic move strengthens RNFI’s position in the fintech ecosystem by enhancing its product offerings and boosting market penetration, the company said in its statement.

Under the agreement, RNFI Services will, subject to receipt of necessary regulatory approvals, acquire 1,21,10,000 equity shares, representing 100% of Payworld’s total issued and paid-up share capital. 

Krishna Kumar Daga, chief executive officer, RNFI Services Limited, said, “As we continue to expand our footprint in the digital financial services space, this acquisition allows us to integrate Payworld’s extensive retail network with our advanced technology-driven platform. With this integration, we are poised to create new opportunities for retailers, improve service efficiency, and bridge critical gaps in last-mile financial connectivity.”

Praveen Kumar Dhabhi, director, Payworld Digital Services, added, “We take great pride in the vast network of retailers and agents we have built, driving financial inclusion across India. This transaction marks a significant milestone, and we are confident that RNFI Services, with its expertise and vision, will further strengthen and expand this ecosystem.”

InCorp Advisory acted as the exclusive financial advisor for the transaction.