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Digital Payment: The Reserve Bank of India (RBI) has now decided to take major action on Fintech companies. Taking action on Razorpay and Cashfree, two big payment gateway companies of the country, the facility of adding new customers has been banned to increase business.
According to the report published in the media, while giving information on this matter, Razorpay has told that this step of RBI is temporary and its effect will not be seen on the existing customers. At the same time, according to the news of PTI, Cashfree has not given any statement on this matter.
Razorpay got the license of payment aggregator
Razorpay is a payment gateway platform. According to Razer’s contact, he got the license of payment ‘aggregator’ in the month of July. In such a situation, now the company will have to share all its details with RBI to complete the license process in the final stage.
how long will razorpay not connect New Customer
Razorpay said, RBI has ordered him that he cannot add new customers to his system at present. Razorpay will be able to add its new customers only when it does not submit all its details to RBI. The company said that being a responsible corporate house, Razorpay follows all the guidelines of RBI and will continue to do so.
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Razorpay said, this ban will not affect the existing customers and business of the company. In such a situation, the current traders can easily use this platform. At the same time, no statement of Cashfree has come on this matter so far.
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