RBI move to regulate ePayments may secure, stabilise ecosystem
Industry sources pointed out that since the RBI encouraged the companies to bring in innovations in the retail payments space, multiple players have emerged.
- We are considering the feasibility of directly regulating these payment operators…given their growing importance in the payment systems of the country, we deem such a step to be important,” RBI governor Shaktikanta Das said.
- The central bank on Thursday said it is examining the possibility of bringing payment gateway operators under its direct regulatory ambit, a move that industry players said will make the digital payments ecosystem more secure and stable.
- The payments industry expects the RBI to address these issues in the consultation paper.
- The security aspect around digital payments is also something that needs to be addressed, said Suresh Rajagopalan, president, software products business at FSS, which provides payment solutions to banks and others.