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News and resources on payments systems, innovations and initiatives worldwide.

Discussion
Stripe blames regulatory landscape for move to invite-only in India
Ketharaman Swaminathan

Ketharaman Swaminathan

  In between, the Indian banking regulator drastically increased the scope of merchant due diligence that payment aggregator license holders like Stripe need to carry out to onboard new merchants. It was earlier like KYC that could be carried out by the merchant in self-service mode. It has now become like KYB that needs to be carried out by PA via physical verification. Experts told Economic Times last month that the change in reg announced by RBI would increase efforts and costs for PAs and slow down merchant onboarding by 9X. Notwithstanding what Stripe is saying about commitment to India now, I wouldn't be surprised if it's effectively bidding sayonara to the Indian market, just like many merchants did on the back of Reg Emandate announced by RBI for recurring payments 2.5 years ago.
Stripe blames regulatory landscape for move to invite-only in India
Hitesh Thakkar

Hitesh Thakkar

  Stripe received Payment Aggregator license (in-principle) in early 2024 so now next step is to put up infrastructure which as per regulator (RBI) need to follow it's cyber security controls, process and procedures. Back of the envelope calculation on timeline  1 3 to 4 months to setup infra and controls.DC + DR ( In India). 2. 3 to 4  months for PCI and ITGRC norms audits May or June 2025 seems reasonable cooling time justified.
PayPal builds advertising platform
Ketharaman Swaminathan

Ketharaman Swaminathan

  As I highlighted in my company blog post Mastering Targeted Offers – The Uber Way several years ago, I don't know a better practitioner of targeted advertising than Uber. Smart move by PayPal to hire an ex-Uber executive to lead up its new advertising business. 
Reducing banks' carbon footprint: What can be done to achieve environmental targets?
A Finextra Member

A Finextra member

  Watching all these trees in the northern hemisphere taking up carbon and turning it into blossom, green leaf and new branch has been marvellous this year as it is every year.
Sehrish Alikhan

What is pay by bank?

Sehrish Alikhan - Reporter, Finextra