Mumbai, Maharashtra, India, December 2025 — Kunal Gothivarekar has begun a new leadership chapter as the Chief Business Officer – Payments Aggregation at Phi Commerce, a leading omnichannel payment solutions provider. In this strategic role, he will steer the payments aggregation business, accelerate enterprise adoption, and strengthen Phi Commerce’s position as a high-scale, technology-led player in India’s digital payments ecosystem.
Before joining Phi Commerce, Kunal Gothivarekar served as the Head of Offline Business at Razorpay, where he spent close to two years managing the company’s offline merchant ecosystem. His leadership contributed to strengthening Razorpay’s market presence and elevating its omnichannel payments strategy in one of India’s fastest-growing payment categories.
Prior to Razorpay, he held the role of Country Head – Merchant Acceptance at Fiserv, where he led India’s merchant acceptance business across multiple banking partnerships. During this period, he drove profitability across key business lines including Acquiring-as-a-Service, Joint Ventures, BIN sponsorship, and Payment Aggregation. His earlier tenure as Global Business Solutions Head – India further deepened his impact, leading major acquiring businesses such as Fiserv–ICICI Merchant Services and Fiserv–IDFC Bank Merchant Services. His journey at Fiserv also included serving as General Manager – ICICI Merchant Services and Vice President – Commercial & Sales, where he played a significant role in scaling revenue, expanding merchant portfolios, and driving sales excellence across the joint venture ecosystem.
Earlier in his career, Kunal Gothivarekar served as a Board Member with both First Data Corporation and ICICI Merchant Services Private Limited, contributing to governance, strategic oversight, and performance steering across merchant acquiring initiatives. His long association with First Data also included key leadership roles such as Director – Revenue Assurance, Asia Pacific Region, and Director – Sales, where he oversaw P&L responsibility, large merchant accounts, portfolio quality, and multiple strategic initiatives with card associations and banks.
His foundational leadership experience was shaped at ICICI Bank, where he spent nearly a decade progressing from the role of Sales Manager to National Sales Manager – Merchant Acquiring within the Cards Group. His responsibilities included managing retail and emerging merchant acquiring businesses, team development, pricing, fee income, and portfolio enhancement. He also handled two-wheeler loans and vehicle loans in his early years, overseeing distribution channels, manufacturer relationships, collateral management, and portfolio sourcing. He began his professional journey at TATA Finance Limited as Officer – Marketing, gaining early experience in customer acquisition and product outreach.
About Phi Commerce
Phi Commerce is India’s leading enterprise payment gateway and omnichannel payment solutions provider, known for powering secure, real-time digital transactions across online, in-store, and doorstep environments through its flagship platform, PayPhi. The company is expanding into Southeast Asia, delivering a unified and frictionless payment experience supported by cards, net banking, UPI, Aadhaar, wallets, NEFT, RTGS, and eNACH.
As an RBI-licensed Payment Aggregator and a PCI DSS, ISO 27001, and ISO 9001 certified organisation, Phi Commerce partners with leading banks, governments, fintechs, and enterprises. The company has a proven track record of processing billions of transactions, digitising first- and last-mile payment touchpoints, and unlocking efficiencies for sectors long dependent on cash-based operations.
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