{"id":28283,"date":"2024-04-17T01:40:08","date_gmt":"2024-04-17T01:40:08","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/04\/17\/rbi-diktat-to-payment-cos-on-merchants-times-of-india\/"},"modified":"2024-04-17T01:40:08","modified_gmt":"2024-04-17T01:40:08","slug":"rbi-diktat-to-payment-cos-on-merchants-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/04\/17\/rbi-diktat-to-payment-cos-on-merchants-times-of-india\/","title":{"rendered":"RBI diktat to payment cos on merchants &#8211; Times of India"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"1280\" height=\"720\" src=\"https:\/\/i2.wp.com\/static.toiimg.com\/photo\/msid-109356485,imgsize-1079578.cms?resize=1280,720&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"RBI diktat to payment cos on merchants &#8211; Times of India\" title=\"RBI diktat to payment cos on merchants &#8211; Times of India\" \/><\/div>\n<div>RBI<!-- --> on Tuesday asked online payment firms to monitor transactions-related activities of <!-- -->merchants<!-- --> on their platforms and ensure that they meet its fresh <!-- -->guidelines<!-- -->, in a series of moves aimed at tightening the scrutiny of the sector.<br \/>India&#8217;s burgeoning yet relatively less-regulated <!-- -->online payments<!-- --> industry has come under RBI&#8217;s cross-hairs given the lax oversight of some of the platforms, which handle billions of rupees in daily transactions.<br \/>In its fresh guidelines, RBI has set different levels of <!-- -->due diligence<!-- --> based on merchant size and also asked <!-- -->payment aggregators<!-- --> to maintain details of the merchant-employed agents assisting in the process. The new norms shall be applicable in three months, it said. Separately, it said that no entity in a transaction chain made through cards, except by their issuers and networks, can store data starting Aug 1, 2025. <\/div>\n<p><script>!(function(f, b, e, v, n, t, s) {\n    function loadFBEvents(isFBCampaignActive) {\n      if (!isFBCampaignActive) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        if (f.fbq) return;\n        n = f.fbq = function() {\n          n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n        };\n        if (!f._fbq) f._fbq = n;\n        n.push = n;\n        n.loaded = !0;\n        n.version = '2.0';\n        n.queue = [];\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/connect.facebook.net\/en_US\/fbevents.js', n, t, s);\n      fbq('init', '593671331875494');\n      fbq('track', 'PageView');\n    };\n    function 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burgeoning yet relatively less-regulated online payments industry has come under RBI&#8217;s cross-hairs given the lax oversight of some 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