RBI Payment Aggregators & Gateway Audit is crucial to your business because of new guidelines on 17th March 2020 related to the Regulation of Payment Aggregators and Payment Gateways. These guidelines are mandating the Payment Aggregators and Payment Gateways to get authorization from RBI by obtaining the settlement of payment to the merchant at fixed transaction time. These guidelines are all about the operations and technical details for Payment Aggregators & Gateway – containing On-Boarding, Customer Data Access, Audit Obligations, and Data Sovereignty.
By keeping these guidelines in process, RBI has decided to regulate the activities of payment aggregators and help them providing baseline technology related to payment gateways.
All the existing Non-Banks Payment Aggregators are required to take an authorization from RBI (as mandatory to get before 30th June 2021) because RBI has authorization to regulate the payment aggregators and gateways to ensure the safety of all the online transactions.
Cybertryzub offers RBI Payment Aggregators & Gateway Audit services by following the guidelines of the RBI.
Audit is required to non-banks payment aggregator for having the minimum net worth of INR 15 Crore that may vary up to INR 25 Crore by the end of the financial year.
The payment aggregators need baseline technology that includes the implementation of Data Security standards along with Cyber-Security Audits, Incident Reporting, and Framing IT Policies.
E-Commerce organizations with the Payment Aggregators are required to have the Authorized License and have to isolate payment aggregators into separate entity.
There are other points to taken into consideration. We provide you with complete guide and help you in audit process. Feel free to contact us and get the right solutions.