Online Payment Gateway License India RBI Payment Wallet Bank

1. Looking for something else? Search RBI Payment Wallet License Mobile payment generally refers to payment services operated under financial regulation and performed from or via a mobile. Mobile payment wallet also referred to as mobile money, mobile money transfer and mobile wallet. RBI Payment Gateway License Mobile payment generally refers to payment services operated under financial regulation and performed from or via a mobile. Mobile payment wallet also referred to as mobile money, mobile money transfer and mobile wallet.Payment wallet license or prepaid payment wallet license in India is issued by RBI. RBI is responsible for issuing guidelines and rule for prepaid payment wallet and responsible for granting the license.   RBI has classified prepaid payment wallet into three categories: Closed system payment Semi-closed system payment Open system payment   Closed system payment: Closed wallet is the wallet which is issued by a company to a consumer for buying goods and services exclusively from that company. Example: Amazon, Cleartrip etc   You can use closed system payment wallet: To receive refunds for receive and receive cash back. You can do purchasing.   Hi there Open system payment

2. p y p y This is a type of wallet which can be used to purchase of goods and services and also permit cash withdrawal at ATM. Example- Visa card, Master card, Rupay card.   You can use Open system payment wallet: For cash withdrawal at ATM Payment on purchase of goods and services on swiping Use through POs machine for making payment.   Semi-Closed system payment: It is a wallet that can be used to buy goods and services as it is a payment instrument that are redeemable of clearly identified merchant that contract specifically with the issuer to except the payment instrument. Example- Paytm, Mobikwik, Freechare etc.   You can use Semi-Closed system payment wallet: Pay to affiliated merchant for purchasing goods Purchase from wallet issuer Transfer money Eligibility Criteria For Payment Gateway Wallet License: Banks and Non-Bank Finance Companies(NBFC),who comply with the eligibility criteria,would be permitted issue all categories of payment instruments. Only banks which have been permitted to provide Mobile Banking Transactions by the Reserve Bank of India shall be permitted to launch mobile based prepaid payment instruments (mobile wallets & mobile accounts). Other entities would be permitted to issue only closed system prepaid payment instruments and semi-closed system prepaid payment instruments. Mobile Prepaid value: Mobile Service Providers are permitted to issue mobile prepaid value. In addition to talk-value the use of such prepaid value as a payment instrument shall be restricted to the purchase of only such value added digital contents/services which are for use on the mobile phones. The use of mobile prepaid value for purchase of other goods and services shall not be permitted. Capital requirements To Apply For Payment Gateway License: Only banks and Non-Bank Finance Companies complying with the Capital Adequacy requirement prescribed by Reserve Bank of India from time-to-time shall be permitted to issue prepaid payment instruments. All other entities shall have minimum net owned funds of Rs 10 lakhs

3. Foreign Exchange Prepaid Payment Instruments:  Entities authorized under FEMA to issue foreign exchange prepaid payment instruments are exempt from the purview of these guidelines. The use of such payment instruments shall be limited to permissible current account transactions and subject to the prescribed limits under the Foreign Exchange Management (Current Account Transactions) Rules, 2000, as amended from time to time. Request a Callback Name Email Contact No. Enquiry for No unwanted emails | No spam, corpseed use security methods to protect your personal data from unauthorized access. Submit FAQ`s What are the benefits of taking services from Corpseed ? At Corpseed, we are committed to offer our services to the entrepreneurs and businesses as a very cost-effective proposition. We believe that a customer is always right and the focus of any business activity should be to serve the customer with utmost loyalty. All our services come with SLAs (Service Level Agreements) for on-time service delivery and money back guarantee to ensure high level of customer satisfaction. What if I'm not happy with the service? At Corpseed, our valued customers are always kept in the loop as far as service delivery timeline is concerned and we inform our customers every time a milestone is achieved during each stage of service request processing. But we also believe that we may come across a customer who is not satisfied with our efforts. For that we have a very responsive Customer Care Department which work 24x7 to attend to and solve customer complaints. We also have a money back guarantee for those, who want their service charges to be refunded. How can I be sure that my documents are safe?

4. At Corpseed, We believe it is our responsibility to protect our customer information from unauthorized access. We have put systems and processes in place to make sure that the customer information is safe with us during its storage and transfer between in house and third party servers. We continuously test our systems and processes for security breach and vulnerabilities are identified and fixed at a regular basis.. What is Corpseed cashback policy? If a customer is not satisfied with the service we provided and if he contacts our customer care helpline and files a formal complaint within 15 days of service delivery date, Corpseed would refund the entire or partial amount of Professional Fee charged for that particular service. What is the process to register customer complaints? If a customer is having issues with our service delivery process, he has various alternatives available at his disposal to register his grievance with us. He can either email his complaint at complaints@corpseed.com or he can call our 24x7 Customer Care Helpline. Also, any customer is always welcome to visit our office to lodge a complaint with the senior management. What is the process for online payment? A customer can buy our services directly from our online platform, for which he need to make online payment. Once he clicks on "Apply Now", a new window will open, a customer is required to submit the information in the respective fields and click "Make Payment". A unique ticket number will be auto generated, the customer need to quote this number as reference for any enquiry regarding his service request. Is the online payment secured All the monetary transactions performed on Corpseed online platform are secured with SSL System Protocol. We encrypt the customer information such as credit card and bank account details, before these are transmitted anywhere. We adhere to PCI DSS for data security standards for payment processing. Legal Guide Download free legal guide on how to successfully start and manage business in India & achieve 100% compliance. Enter Email Id... Enter Mobile Number... Download Get helpful tips and info from our newsletter!

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