RBI rejects Paytm, Freecharge, and PayU’s PA applications
Applications for authorization under the 2007 Payment and Settlement Systems Act from well-known online PAs (non-bank payment aggregators), including Freecharge PayTM Payments Services, Payment Technologies, and PayU Payments, have been rejected by the Indian Central Bank (PSS Act). Also, the central bank amended the Technology Tapits application. Yet, to be fair, within 120 days of…