About AndPayments
AndPayments is building the next-generation payments stack for Indian businesses, and for businesses globally that need India-grade payments infrastructure. We operate across Payments, RegTech, B2B SaaS and Prepaid Instruments. These are not separate bets. They are a deliberate stack: compliance infrastructure that enables payment products that enable financial instruments, all built together rather than bolted together.
We move fast because we have to. We care deeply about compliance because we build on regulated infrastructure, and because we believe compliance done right is a competitive moat, not just a cost of doing business. We use AI as a primary operating layer, not as a productivity add-on. If you want to spend the next few years building something that will define how Indian businesses transact, and eventually how businesses transact globally, this is where you should be.
About the role
We are looking for a commercially sharp and process-driven Manager – Merchant Operations to own the complete merchant lifecycle on our RBI-licensed Payment Aggregator (PA) platform. From initial onboarding and underwriting through to day-to-day account management, device operations, high-risk reviews, and merchant payments, this role covers every touchpoint of the merchant relationship. You will ensure that our merchant base is onboarded compliantly, monitored continuously, and served efficiently—directly influencing merchant activation rates, transaction volumes, and platform trust.
What you'll do
Merchant Onboarding, KYC/KYB & Underwriting
- Own the end-to-end merchant onboarding process—application intake, document collection, KYC/KYB verification, business due diligence, underwriting assessment, and account activation—in compliance with RBI PA guidelines.
- Define and maintain onboarding SOPs, checklists, and turnaround time benchmarks; continuously reduce time-to-live for new merchants without compromising due diligence quality.
- Manage the merchant underwriting and activation framework—assessing business models, transaction volumes, risk profiles, and regulatory eligibility before approving live access.
- Coordinate with the Compliance team for enhanced due diligence (EDD) on high-risk categories, PEP screenings, adverse media checks, and negative list screenings.
- Manage and continuously improve the merchant onboarding portal/workflow, working with the product team to automate and digitise documentation flows.
Enhanced Due Diligence & High-Risk Merchant Review
- Own the EDD process for high-risk merchant segments—including those in RBI-flagged categories, merchants with elevated chargeback or refund ratios, and businesses requiring additional beneficial ownership verification.
- Chair or participate in a periodic high-risk merchant review committee; assess ongoing eligibility and take decisions on limit changes, additional monitoring, suspension, or offboarding.
- Maintain a high-risk merchant watch list and ensure periodic re-evaluation cycles are embedded in the operations calendar.
Merchant Monitoring & Lifecycle Management
- Oversee ongoing merchant transaction monitoring—identifying AML red flags, unusual volume spikes, prohibited business activities, and policy violations.
- Manage the complete merchant lifecycle including limit enhancements, product additions, configuration changes, periodic review, suspension, and offboarding.
- Maintain and update the negative merchant list and ensure blacklist screening is embedded in the onboarding and ongoing monitoring workflows.
- Track merchant health metrics—activation rates, transaction volumes, chargeback ratios, and refund rates—and produce regular merchant portfolio reports.
Sound Box & POS Terminal Management
- Own the operations for sound box and POS terminal deployment—covering device provisioning, merchant mapping, configuration, activation, and field support coordination.
- Manage device inventory, logistics partners, and courier tracking for terminal deployments and replacements.
- Coordinate with the technology and product teams for firmware updates, terminal health monitoring, and downtime resolution.
- Track terminal performance metrics—uptime, transaction success rates, and merchant satisfaction—and drive continuous improvement.
Merchant Payments
- Oversee the merchant payment disbursement process—ensuring settlements, advance payments, and promotional payouts are processed accurately and on time.
- Manage queries and disputes related to merchant payment accounts, deductions, fee structures, and reconciliation differences.
- Coordinate with the Finance and Escrow & Banking Operations teams for payment scheduling, holdback management, and rolling reserve releases.
Merchant Communication & Support
- Design and maintain merchant-facing communication templates, FAQs, onboarding guides, and self-service materials.
- Coordinate with the Customer Operations team to ensure merchant support tickets are triaged, prioritised, and resolved within SLA.
- Run periodic merchant satisfaction surveys and use feedback to improve processes and the merchant experience.
What we're looking for
- Bachelor's or Master's degree in Business Administration, Commerce, Finance, or a related field.
- 6–9 years of experience in merchant operations, merchant onboarding, or partnerships at a payment aggregator, payment gateway, or fintech company.
- Thorough knowledge of RBI PA Master Directions 2020 (as amended) and merchant due diligence requirements including KYC/KYB norms and underwriting standards.
- Familiarity with AML/CFT guidelines, prohibited merchant categories, EDD frameworks, and risk-based onboarding.
- Experience managing POS/sound box terminal operations including device logistics, activation, and field support coordination.
- Strong process design and project management skills; experience building or improving onboarding and monitoring workflows.
- Proficiency in CRM platforms, merchant management systems, and Excel/Google Sheets for operational reporting.
Nice to have
- Experience with automated KYC/KYB platforms (e.g. IDfy, Signzy, CKYC, or similar).
- Prior exposure to merchant risk scoring frameworks and transaction monitoring systems.
- Experience managing enterprise or aggregator platform merchants with high transaction volumes.
- Understanding of GSTIN verification, Udyam registration, and other Indian business verification frameworks.
- Prior experience chairing or supporting a merchant review committee in a regulated PA.