Decoding RBI’s Draft Guidelines for Payment Aggregators
The Reserve Bank of India (RBI) has recently unveiled draft guidelines for payment aggregators (PAs), and industry experts believe that these regulations are both pivotal and timely. Let’s delve into the details and understand why these guidelines are significant.
Boosting the PA Ecosystem and Enhancing Trust
The proposed regulations aim to bolster the PA ecosystem, improve digital trust, and promote ethical practices. Here are the key takeaways:
Level Playing Field: The guidelines ensure a level playing field by defining PAs as entities that onboard merchants and facilitate payment aggregation for goods and services. This includes both online and physical point-of-sale (PoS) payment modes. Notably, the updated definition now includes physical PoS payment providers w...