Page 3 - Payment Aggregators News Today

The overhaul by the RBI opens a new chapter in fintechs role in e-commerce, heralding an era of broader participation and innovation in cross-border transactions

With the final licence in hand, merchant onboarding opens up for both startups. They had been placed under an embargo by the Reserve Bank of India from onboarding new merchants almost a year ago.

The license will mean that the payments firms can now start onboarding of new merchants to their platforms. Neobank Open, Enkash and Paymentz has also received the final nod.

India Business News: MUMBAI: Digital payment startups Razorpay and Cashfree have been granted approval by RBI to function as payment aggregators.

In a significant development for the Indian fintech landscape, major payment processing players, including Razorpay and Cashfree, have received the final nod from the Reserve Bank of India (RBI) to operate as Payment Aggregators (PAs).

​​RBI has decided to regulate entities facilitating payment and settlement for online cross border export / import transactions as Payment Aggregators - Cross Border (PA-CB) under the Payment and Settlement Systems Act, the central bank said in a circular.

Get latest articles and stories on Latest News at LatestLY. The Reserve Bank on Thursday brought all entities facilitating cross-border payment transactions for the import and export of goods and services under its direct regulation. Latest News | RBI Bring Entities Facilitating Cross-border Payment Transactions Under Its Direct Regulation.

ISLAMABAD: The remittance gateways licensed by the State Bank of Pakistan (SBP) are among the financial institutions...

Razorpay, Cashfree, Paytm and PayU cannot add merchants for their online payments business, this has allowed their rivals to grab market share

Happy Monday! Almost a year after the countrys central bank imposed a freeze on onboarding new merchants for online payment firms, they have been forced to scout for alternative revenue sources.