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Call for Inputs: draft Directions for regulation of Payment Aggregators
Call for Inputs: draft Directions for regulation of Payment Aggregators

April 17, 2024

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Reserve Bank of India (RBI) has published two draft directions on regulation of Payment Aggregators (PA) for public consultation, as below:

1. Draft Directions for regulation of PA - Physical Point of Sale: this is in line with the RBI's 'Statement on Developmental and Regulatory Poilcies' published last year. This regulation aims to bring into the ambit of regulation physical point of sale activities of PAs. It imposes a requirement on PA-P to apply for an authorisation from RBI, and comply with the existing Know Your Customer (KYC) Master Directions and PA-PG Guidleines

2. Draft amendments to existing directions on PA: The draft amendments to current directions for regulation of PAs include on KYC, due-diligence of merchants, operations in escrow accounts, agents of PAs etc.

We are preparing feedback that can be shared with RBI on the above two draft regulations. In this regard, we are requesting your inputs by May 8, 2024. Kindly write to garima@nasscom.in with a copy to policy@nasscom.in
 


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Garima Prakash
Deputy Manager, Public Policy and Government Affairs

Reach out to me for all things policy about e-commerce, international trade, export controls, start-ups and fintech

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