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RBI Guidelines on Regulation of Payment Aggregators & Payment Gateway
Considering the critical role being played by payment intermediaries in the online payments space and keeping in view their role vis-à-vis handling funds, RBI has decided to: (as per notification (DPSS.CO.PD.No.1810/02.14.008/2019-20 dated March 17, 2020)
- Regulate in entirety the activities of Payment Aggregators
- Provide baseline technology-related recommendations to Payment Gateways
- RBI has released a detailed guideline for both Payment Aggregators and Payment Gateways under Section 18 and Section 10(2) of the Payment and Settlement Systems Act, 2007
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