https://www.taxtmi.com/article/detailed?id=13006 RBI's guidelines impose a compliance regime on non-bank payment aggregators requiring company incorporation with PA activity, authorization under the PSS Act, progressive and maintained net worth, board-monitored governance, merchant background checks and contractual protections, escrow-only settlements with a single scheduled commercial bank, and periodic reporting. Technology rules mandate data security, PCI-DSS/PA-DSS adherence, incident reporting, and forbid storage of card-on-file data by parties other than card issuers and card networks, encouraging tokenization and alternate mechanisms for recurring or post-transaction use-cases. en-us Wed, 09 Oct 2024 19:58:49 +0530 Wed, 09 Oct 2024 19:58:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=13006 RBI's guidelines impose a compliance regime on non-bank payment aggregators requiring company incorporation with PA activity, authorization under the PSS Act, progressive and maintained net worth, board-monitored governance, merchant background checks and contractual protections, escrow-only settlements with a single scheduled commercial bank, and periodic reporting. Technology rules mandate data security, PCI-DSS/PA-DSS adherence, incident reporting, and forbid storage of card-on-file data by parties other than card issuers and card networks, encouraging tokenization and alternate mechanisms for recurring or post-transaction use-cases. Articles Limited Liability Partnership - LLP Wed, 09 Oct 2024 19:58:49 +0530 https://www.taxtmi.com/article/detailed?id=13006