Payment service provider authorisation requires prescribed application and fee, while exempt persons need not obtain authorisation. Persons intending to provide Payment Services in or from an IFSC must apply for authorisation as a Payment Service Provider in the specified format and ... Summary
International Financial Services Centres Authority (Payment Services) Regulations, 2024
Payment service provider authorisation requires prescribed application and fee, while exempt persons need not obtain authorisation.
Persons intending to provide Payment Services in or from an IFSC must apply for authorisation as a Payment Service Provider in the specified format and manner, with the prescribed non-refundable fee. Persons listed in Schedule IV are exempt. Authorised providers may offer one or more Payment Services identified in Part A of Schedule I. A provider meeting the additional conditions in Part C of Schedule I is designated a Significant Payment Service Provider.
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