Authorisation revocation permits action against payment service providers for non-compliance or user-prejudicial operations, subject to a reasonable hearing. Authorisation may be revoked where a Payment Service Provider breaches authorisation conditions, applicable regulatory requirements, or Authority orders ... Summary
Authorisation revocation permits action against payment service providers for non-compliance or user-prejudicial operations, subject to a reasonable hearing.
Authorisation may be revoked where a Payment Service Provider breaches authorisation conditions, applicable regulatory requirements, or Authority orders or directions, or carries on payment services prejudicially to Payment Service Users' interests. An order revoking authorisation may be issued only after the concerned provider receives a reasonable opportunity of hearing.
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