Payment Aggregator License (India)
GPTKB entity
Statements (42)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
Financial License
|
| gptkbp:applicableFrom |
April 2020
|
| gptkbp:application |
gptkb:Banks
Non-Bank Entities Submission to RBI |
| gptkbp:appliesTo |
gptkb:Fintech_Companies
gptkb:India gptkb:E-commerce_Platforms Payment Gateways Entities handling customer funds for merchants Third-party Payment Processors |
| gptkbp:complianceRequirement |
KYC Norms
Data Security Standards Capital Adequacy Escrow Account Maintenance Grievance Redressal Mechanism IT Security Audit Merchant Onboarding Guidelines Periodic Reporting to RBI |
| gptkbp:examplesOfLicensees |
gptkb:Pine_Labs
gptkb:Cashfree gptkb:CCAvenue gptkb:PayU gptkb:Razorpay |
| gptkbp:governedBy |
RBI Guidelines for Payment Aggregators
|
| https://www.w3.org/2000/01/rdf-schema#label |
Payment Aggregator License (India)
|
| gptkbp:introducedIn |
2020
|
| gptkbp:issuedBy |
gptkb:Reserve_Bank_of_India
|
| gptkbp:legalBasis |
Payment and Settlement Systems Act, 2007
|
| gptkbp:minimumNetWorth |
INR 15 Crore (initial)
INR 25 Crore (by March 2023) |
| gptkbp:objective |
Consumer Protection
Fraud Prevention Systemic Stability |
| gptkbp:purpose |
To regulate entities facilitating e-commerce payments
|
| gptkbp:regulates |
Payment Aggregators
|
| gptkbp:renewalPeriod |
Annual
|
| gptkbp:requires |
Online Payment Processing
|
| gptkbp:reviewedBy |
RBI Department of Payment and Settlement Systems
|
| gptkbp:status |
Mandatory for Non-Bank Payment Aggregators
|
| gptkbp:bfsParent |
gptkb:PayU_(India_and_Southeast_Asia_business)
|
| gptkbp:bfsLayer |
8
|