What is Consequences of violating payment aggregator/gateway guidelines?
Nexa Consultancy | Startup & Finance Glossary
The RBI's guidelines for Payment Aggregators (PAs) are strict. Violations related to net worth, fund flow management, data localization, or KYC can lead to heavy penalties and even revocation of the PA license.
Startup Example: A licensed PA is found to be co-mingling customer funds from the nodal account with its own funds. This is a severe violation and can lead to the RBI revoking their license to operate.
Our Virtual CFO for FinTechs ensures adherence to these guidelines.