{"id":7439,"date":"2022-11-26T02:08:29","date_gmt":"2022-11-25T20:38:29","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=7439"},"modified":"2025-03-28T20:43:42","modified_gmt":"2025-03-28T15:13:42","slug":"payment-aggregator","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/payment-aggregator\/","title":{"rendered":"Payment Aggregator"},"content":{"rendered":"<h2><strong>About Payment Aggregator:<\/strong><\/h2>\n<ul>\n<li>A payment aggregator\u00a0<strong>provides payment services to merchants and e-commerce sites by accepting payment instruments from customers.<\/strong>\u00a0As a part of this, they pool the funds received from customers and transfer them to merchants after a certain time.<\/li>\n<li>The services include facilitating integrated payment options such as transactions of\u00a0<strong>cash and cheque, and online and offline touch points, besides allowing bank transfers for merchants<\/strong>\u00a0without the need to set up accounts directly with the bank.<\/li>\n<\/ul>\n<h3><strong>Why a licence is needed?<\/strong><\/h3>\n<ul>\n<li>In a new set of guidelines issued in March 2020, the RBI mandated that all PAs shall be authorised by it. For this, the regulator instructed non-bank companies offering PA services to apply for authorisation by June 30, 2021, which was later pushed to September 30, 2021.<\/li>\n<li>The decision on granting the licence has come after a period of assessment of the applications. The norms made it important for all payment gateways to acquire a licence to continue. The few firms authorised to operate as payment aggregators in India will come under the\u00a0<strong>direct purview of the RBI<\/strong>.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><strong>Source :\u00a0<\/strong><a href=\"https:\/\/www.livemint.com\/companies\/news\/rbi-rejects-paytm-s-plea-for-payment-aggregator-license-11669438408274.html\" target=\"_blank\" rel=\"nofollow noopener\">LiveMint<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Payment aggregators facilitate online payments by acting as intermediaries between customer and merchant.<\/p>\n","protected":false},"author":5,"featured_media":7440,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-7439","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/7439","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=7439"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/7439\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/7440"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=7439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=7439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=7439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}