Payment Aggregators: RBI Eases Rules for New Segments
Why in the news
RBI streamlined approvals so licensed payment aggregators can move into segments like cross-border payments much faster.
Key facts
| Aspect | Detail |
|---|---|
| New route | Notify RBI at least 30 days before starting |
| Earlier wait | Nearly one year |
| Eligibility | Only PAs holding a Certificate of Authorisation (CoA) |
| Licensed players | 56 online PAs and 6 PA-CBs |
| Compliance overlap | PA-CB needs about 80% the same as a regular PA |
Conditions and implications
- PAs must actually run the new business; a licence alone is not enough.
- All remain under RBI audits.
- Quicker entry may boost cross-border payments; more players could squeeze today’s higher PA-CB margins.
- PA-CBs handle imports and exports of permitted goods and services.
Exam angle
- Terms: PA, PA-CB, CoA.
- Notice period: 30 days.