RBI asks Razorpay to pause onboarding merchants

RBI asks Razorpay to pause onboarding merchants

According to one of the sources, Razorpay will likely submit a report to the RBI early next week and once that is approved, the company can continue onboarding new merchants.

Fintech firms Razorpay, Cashfree can't onboard new merchants for now

Razorpay said it was a temporary move and will not have any impact on its existing business operations and current merchants

RBI asks RazorPay, Cashfree Payments to pause on-boarding new merchants

Razorpay was one of the first three firms to receive the RBI’s in-principal approval licence along with Pine Labs and US-based Stripe

RBI asks Razorpay, Cashfree to pause onboarding of new customers

India Business News: "RBI has issued an order a few days back asking Razorpay and Cashfree to stop customer onboarding," a source told PTI.

Razorpay pauses onboarding of online payment merchants after RBI advisory

Razorpay expects to resume onboarding after a few weeks

Razorpay Halts Onboarding Of Online Merchants After RBI Issues Advisory

Razorypay, one of the country's leading payment processors, has halted the onboarding of new merchants following an advisory issued to them by the Reserve Bank of India. The action is not punitive in nature and is part of the licencing process. "As part of the process for the final authorisation of our PA/PG license, for which we received in-principle approval from RBI in July, we are now required to share additional details with RBI to aid in t…