{"id":14343,"date":"2020-03-19T15:06:23","date_gmt":"2020-03-19T09:36:23","guid":{"rendered":"http:\/\/factly.forumias.com\/?p=14343"},"modified":"2020-03-19T15:06:23","modified_gmt":"2020-03-19T09:36:23","slug":"rbi-releases-new-guidelines-for-payment-aggregators","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/rbi-releases-new-guidelines-for-payment-aggregators\/","title":{"rendered":"RBI releases new guidelines for payment aggregators"},"content":{"rendered":"\n<p><strong>News:<\/strong>The Reserve Bank of India (RBI) has released guidelines for regulating activities of Payment Aggregators(PAs) and Payment Gateways(PGs) in the country.<br><\/p>\n\n\n\n<p><strong>Facts:<\/strong><br><\/p>\n\n\n\n<p><strong>About:<\/strong>Reserve Bank of India(RBI) has defined Payment Gateways and Payment Aggregators as those entities who:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>provide technology infrastructure to route and \/ or facilitate processing of an online payment transaction and perform other functions without actually handling the funds.<\/li><li>facilitate e-commerce sites and merchants to accept various payment instruments from the customers for completion of their payment without the need for merchants to create a separate payment system of their own.<\/li><\/ul>\n\n\n\n<p><strong>Key Guidelines:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Payment Aggregators(PA) should have a minimum net worth of \u20b915 crore at the time of application for authorisation and \u20b925 crore has to be maintained at all times thereafter.<\/li><li>Non-bank PAs will require authorisation from the RBI under the Payment and Settlement Systems Act, 2007 (PSSA).They should be a company incorporated in India under the Companies Act,1956 \/ 2013.<\/li><li>PAs need to check their merchant customers are not involved in selling of prohibited or fake items and should also set up designated nodal offices to deal with customer grievances.<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/AcduBoZcnDThFDA2vFy70Q5ruFnRYvxTAf8Khvu8LraKnOK011-t8lALdKKG_Hp_Iqu_Era03KZ7IEUxnBQKLw1Y7Hv4e9pY1HIdmSxHdqASI30OhJh1wnvBhd1YFiTN1Bvea5zE\" alt=\"\" \/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>News:The Reserve Bank of India (RBI) has released guidelines for regulating activities of Payment Aggregators(PAs) and Payment Gateways(PGs) in the country. Facts: About:Reserve Bank of India(RBI) has defined Payment Gateways and Payment Aggregators as those entities who: provide technology infrastructure to route and \/ or facilitate processing of an online payment transaction and perform other&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/rbi-releases-new-guidelines-for-payment-aggregators\/\">Continue reading <span class=\"screen-reader-text\">RBI releases new guidelines for payment aggregators<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3127],"tags":[4063,4064,394],"class_list":["post-14343","post","type-post","status-publish","format-standard","hentry","category-economy","tag-guidleines","tag-payment-aggregators","tag-rbi","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704738793},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/14343","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=14343"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/14343\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=14343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=14343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=14343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}