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Extending purview: RBI to regulate offline payment aggregators, too

Pinelabs, MSwipe, Ezetap, FSS, Hitachi payments, Worldline, etc. are some offline payment aggregators

Photo: Bloomberg
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Photo: Bloomberg

Subrata Panda
After getting online payment aggregators under its purview, the Reserve Bank of India (RBI) is now planning to extend the regulations to offline payment aggregators as well.

RBI’s current regulations are applicable to payment aggregators processing online or e-commerce transactions and do not cover offline (proximity/face-to-face) transactions.

“Keeping in view the similar nature of activities undertaken by online and offline payment aggregators, it is proposed to apply the current regulations to offline aggregators as well,” the RBI said. “This measure is expected to bring in synergy in regulation covering activities and operations of aggregators apart from convergence on standards of

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First Published: Sep 30 2022 | 7:32 PM IST

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