Page 4 - Payment Aggregators News Today

The Reserve Bank of India earlier this week said all entities facilitating cross border payment transactions for import and export of goods and services will be directly regulated by it.

The RBIs regulations aim to bring all entities involved in facilitating cross-border payment transactions for the import and export of goods and services under direct RBI regulation, considering the developments in cross-border payments. This includes Authorised Dealer (AD) banks, PAs, and PAs-CB (Payment Aggregators for Cross-Border transactions).

The Reserve Bank of India, on Tuesday, announced it would directly regulate entities facilitating cross border payment transactions for import and export of goods

By using real-time data, Optimizer helps reduce the number of failed transactions caused due to server downtime or service degradation amongst any PG and improves the transaction success rate, the company explained. �� Razorpay Launches 'Optimizer' AI-Powered Payment Routing System To Help Businesses From Annual Losses Due To Transaction Failures.

Full-stack fintech platform Razorpay on Tuesday launched a payment infrastructure -- 'Optimizer', an AI-powered payments routing system, that will protect businesses from annual losses of over 7,000 crore due to transaction failures.This ...

NPCI was established under the aegis of RBI as a non-profit to run a few payment systems such as Immediate Payment Service (IMPS), Unified Payments Interface (UPI), and Bharat Bill Payment System (BBPS). In FY22, NPCI posted a Rs 773 crore profit.

‘Flipping’ refers to process of transferring entire ownership of Indian entity to entity incorporated abroad along with transfer of key assets such as intellectual property. Resultant structure is Indian company becoming wholly owned subsidiary of foreign company.

Network People Services Technologies Limited is in the business of providing Digital Payments solutions to banks, financial institutions, and Merchants. NPST is an authorized Merchant Payment Service Provider, approved by NPCI, acquiring merchants, and providing payment applications to users across various segments.

AuroPay will be able to commence its payment aggregator business upon receiving the final Certificate of Authorization from RBI

Founded in October 2020 by former Citrus Pay and PayU executives Anurag Pandey and Amit Bansal, Nimbbl offers multiple payment checkout solutions to merchants