Page 8 - Payment Aggregators News Today

Computer Age Management Services has incorporated wholly owned subsidiary today (14 December, 2020) with the name CAMS Payment Services. CAMS Payment will be making an application to the Reserve Bank of India (RBI) for being registered as a payment aggregator in accordance with the Guidelines on Regulation of Payment Aggregators and Payment Gateways issued by the RBI on 17th March, 2020. The Company currently undertakes the payments business. Once CAMS Payment receives the approval of the RBI...

Rs 1,100 crore hawala scam and a cryptocurrency trader, Chinese firms The ED has initiated investigation under PMLA against two Chinese firms - Linkyun Technology Private Limited and Dokypay Pvt Ltd - and others based on a FIR registered by Hyderabad CCS Police Dipak Mondal | December 12, 2020 | Updated 08:14 IST The Enforcement Directorate (ED) has arrested cryptocurrency trader Naisar Kothari on the charges of money laundering under Prevention of Money Laundering Act, 2002(PMLA) in a case re...

HYDERABAD: In Chinese betting apps case, Enforcement Directorate has arrested a cryptocurrency operator identified Naisar Kothari for transferring money from Chinese companies to abroad in the form of USD (Tether). ED said that the online betting scan and hawala transactions involved Rs 1100 crore transactions. The accused is a 26-year-old techie from Bhavnagar who did around Rs 14 crore transactions, and ED booked him under the Prevention of Money Laundering Act. ED PMLA Court in Hyderabad g...

Pull payments made on behalf of merchants: Acquirer banks should not push consumers to pay for services December 10, 2020 × The Reserve Bank of India (RBI) needs to move towards creating an environment whereby for pull payments effected on behalf of merchants, the acquirer banks/Payment Aggregators (PAs) are not allowed to push consumers to pay for a payment service, according to a study by an IIT Professor. Pull payments entail a recipient (for example a merchant) requesting payment. Ashish D...