Mumbai: reserve Bank of India It has said that non-bank payment system operators (PSOs) will need prior permission before acquiring any company or transfer of payment activity.
RBI said in a notification, “The operations of non-bank PSOs have been reviewed and they will be required to first in the following cases – acquisition/acquisition of control, sale/transfer of payment activity which is not authorized to carry out similar activity ”
RBI has registered around 70 PSOs including Clearing Corporation of India. NPCI, card And ATM Networks, prepaid instrument issuers, instant money transfer institutions and entities registered as operating entities under Bharat Bill Pay. Registered companies include entities such as PayU, PhonePe, Sodexo, Amazon Pe and Ingenico.