This is part of the feedback on draft directions of payment aggregator regulations by the Reserve Bank of India (RBI).
Fintech players told Business Standard some merchants might be "too small" to go through the full KYC process, which requires physical verification of such customers. This, in turn, may increase their costs.
"For smaller merchants, there should be a process that is digital and a minimum KYC journey should be allowed. These merchants do business of less than 50,000 per month," a senior executive of a payment processing fintech said.
Bu hikaye Business Standard dergisinin April 26, 2024 sayısından alınmıştır.
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Bu hikaye Business Standard dergisinin April 26, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Giriş Yap
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