Simpl
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Biography
Simpl was an Indian Buy Now, Pay Later (BNPL) and digital payment platform founded in 2015. It provided users with a cardless credit line integrated directly into merchant checkouts, allowing customers to pool transactions across partner apps and settle bills periodically.
Cause of Death
On September 25, 2025, the Reserve Bank of India (RBI) ordered parent company One Sigma Technologies Pvt. Ltd. to immediately halt all payment system operations. The regulator determined that Simpl was functioning as an unauthorized payment aggregator carrying out clearing and settlement functions without obtaining a Certificate of Authorisation under Section 7 of the Payment and Settlement Systems (PSS) Act, 2007. The shutdown was further exacerbated by parallel scrutiny from the Enforcement Directorate (ED) regarding foreign exchange and Foreign Direct Investment (FDI) regulatory violations.
Sources: theheadandtale.com, loansjagat.com, thepaypers.com, timesofindia.indiatimes.com
Life Statistics
"Every digital product carries the dreams of its creators. Though they may vanish, the meaning of their existence will never be forgotten."