India: Master direction on regulation of payment aggregators, 2025
Progress
Scope
Timeline of events
Master direction on regulation of payment aggregators, including wind-up provisions for non-compliant entities entered into force
On 28 February 2026, the Master direction on regulation of payment aggregators, including wind-up provisions for non-compliant entities, entered into force. The direction provides that entities that fail to apply for authorisation as a payment aggre…
SourceMaster direction on regulation of payment aggregators, including due diligence requirements entered into force
On 1 January 2026, the Reserve Bank of India's Regulation of payment aggregators directions, 2025, including due diligence requirements, entered into force. From 1 January 2026, all merchants are required to be onboarded in accordance with the due d…
SourceMaster direction on regulation of payment aggregators, including compliance deadline for payment aggregator authorisation entered into force
On 31 December 2025, the Master direction on regulation of payment aggregators entered into force, including the compliance deadline for payment aggregator (PA) authorisation entered into force. Entities holding applications for PA–online or PA–cros…
SourceMaster direction on regulation of payment aggregators, 2025 entered into force with grace period
On 15 September 2025, the Reserve Bank of India (RBI) issued the Regulation of Payment Aggregators Directions, 2025. The directions apply to all bank and non-bank payment aggregators operating in India. They cover three categories, including payment…
Source