A service providing entities that play the role of intermediate between banks and websites facilitating the communication of transaction information is known as payment gateway. They conceive information from the payer bank and take the information to the receiving banks and take care of their input, i.e. whether the transaction is accepted or not
As per RBI guideline Payment gateway are entities that provide technology infrastructure to route and facilitate the processing of an online payment transaction without any involvement in the handling of funds
Applicability of guideline
The issued guideline is applicable on all payment gateways may also adopt technology-related recommendation as follow:
Security-related recommendation:
Others provided in annexure 2 of guideline
Other recommendations
Capital Requirement
Existing Payment Aggregators shall achieve a net-worth of ₹15 crores by March 31, 2021, and a net-worth of ₹25 crores by the end of the third financial year, i.e., on or before March 31, 2023. All the time thereafter net-worth of ₹25 crores shall be maintained.
Entity (Non-Banking) |
Application date/ Authorisation date |
Due date of Achieving ₹ 15 Cr. Net-worth |
Due date of Achieving ₹ 25 Cr. Net-worth |
For Existing PAs |
till 30/06/2021 |
31/03/2021 or application date whichever is earlier |
31/03/2023 |
Net worth consists of paid-up equity capital, preferred securities that are compulsorily convertible to equity, free reserves, balance in the share premium account and capital reserves representing surplus arising from the selling of assets but not reserves generated by the revaluation of assets adjusted for accrued loss balance, the book value of intangible assets and deferred revenue expenditure if any. Compulsorily convertible preferential shares can be either non-cumulative or cumulative and must be convertible into equity shares and the shareholder agreements will specifically prohibit any withdrawal of this preferential capital at any time.
Basic requirements for registration;
Documents required:
Benefits of Gateway:
Cost-effective for a small transaction
The payment aggregator model aims to provide a boost for the processing of credit card & wallet payments, with a limited start-up or fixed costs. A variable merchant fee is applied to each successful transaction in place of start-up fees or fixed rates.
Easy Access payment, on spot
It's easy to submit and set up even better. You can start processing e-commerce payments directly after signing up, or just pop the quick swipe on your mobile phone and you're ready to make payments on the go.
Quick approvals
In India payment gateway can be made within 3-7 working days. Easy to add on the website. Time is money, and the faster you begin processing; the faster profits begin to roll in.
Call or WhatsApp us on +91-99991-39391 for free consultation from our team of experts. You can also email us on reach@corpzo.com.
We share the detailed and reasonable estimated costs, documents and prerequisites for the complete process before starting the process to ensure transparency.
Our team warrants hassle free documentation. We collect the necessary documents and share the relevant drafts to ensure a timely filing and delivery.
Upon collecting the necessary documents and information, we waste no time in preparation and filing of your application. development on your application is brought to your attention.
On successful completion of the case we share all the relevant documents electronically and physically along with an assurance to pay you back if something is wrong.
The Payment Card Industry Data Security Standard (PCI DSS) is a set of security standards designed to ensure that all businesses accepting, processing, storing or transmitting credit card information maintain a safe environment.
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