Payment-services definitions delineate authorization, transaction roles, e-money, cross-border transfers, safeguarding, and third-party arrangements within IFSC. Payment services comprise activities specified in Part A of Schedule I, excluding those in Part B. A payment service provider is an authorised company, ... Summary
Payment-services definitions delineate authorization, transaction roles, e-money, cross-border transfers, safeguarding, and third-party arrangements within IFSC.
Payment services comprise activities specified in Part A of Schedule I, excluding those in Part B. A payment service provider is an authorised company, and payment transactions include the placement, transfer, or withdrawal of money irrespective of an underlying obligation. Cross-border money transfer services cover outbound transmissions from IFSC and inbound receipts for transmission to persons in or outside IFSC. E-money is prepaid electronically stored foreign-currency value that creates a claim on its issuer, while deposits are excluded.
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