TaxTMI 
TaxTMI 
Regulation of Payment Aggregators (PAs) – Draft Directions
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....egulation of Payment Aggregators (PAs) – Draft Directions <br>News and Press Release<br>Dated:- 17-4-2024<br><BR>Reserve Bank of India today placed on its website, for public comments, two draft dir....
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....ections on regulation of Payment Aggregators, as below: * New draft directions on regulation of Payment Aggregators - Physical Point of Sale * Amendments to the existing directions on Payment ....
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....Aggregators RBI in its "Statement on Developmental and Regulatory Policies" dated September 30, 2022, had announced regulation of offline PAs, who handle proximity / face-to-face payments. The new dr....
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....aft directions at (i) above cover such physical Point-of-Sale activities of PAs. Additionally, given the growth in digital transactions and the significant role that PAs play in this space, the curre....
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....nt directions on PAs are proposed to be updated as at (ii) above. These updates cover, inter alia, KYC and due diligence of merchants, operations in Escrow accounts, etc, and are intended to further s....
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....trengthen the payment ecosystem. Comments / feedback on the draft directions may be sent by email or by post to the Chief General Manager-in-Charge, Department of Payment and Settlement Systems, Rese....
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....rve Bank of India, Central Office, 14th Floor, Shahid Bhagat Singh Marg, Mumbai-400001, on or before May 31, 2024. (Yogesh Dayal) Chief General Manager<BR> News - Press release - PIB....