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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The RBI’s latest draft guidelines to regulate payment aggregators have sparked concerns about a potential increase in the cost of doing business.
India’s payments industry is on edge once again.
On 16 April, the Reserve Bank of India published two draft circulars proposing significant changes in the way payment aggregators operate in India. The new guidelines, likely to be finalized later this year, will significantly increase the cost of doing business for payments firms and make life even more difficult for merchants, according to three payments industry executives who spoke on condition of anonymity.
What exactly do businesses fear? They worry that meeting the RBI’s demands would call for an overhaul of several back-end processes, driving up costs. And for merchants, …
