Payment Aggregator Licensing in India
Inside This Article Introduction Updated by the RBI in March 2020 and its released framework regarding payment aggregators’ further continuation compliance. The regulator stated that the payment gateways now need to obtain a license and certification from the Payment Card Industry (Data Security Standard/ PCI DSS) to keep their merchant transactions as it is and […]
Payment Aggregator and Payment Gateway difference and compliance
Inside This Article Introduction Around the world, the COVID-19 pandemic has profoundly affected people’s comfort levels with digital technology. The ‘new normal’ of payment reached 70 billion transactions in 2022, which was 44 billion in 2021. This has created opportunities for new entrepreneurs and small businesses. And finding the right method of the payment transaction […]
What is a Payment Aggregator, what are the benefits, How it works, and How to get registered with RBI?
Inside This Article Introduction Payment or merchant aggregators are third-party service providers allowing payment through several gateways without a merchant account with a bank or card association. PayPal was the first to offer such a service in 1998. Traditionally this has been quite a manual and muddled process to negotiate with each bank, card provider, and other financial […]
