It appears that a new category of licenses is soon to be added in the world of financial services. To tighten the offline payments ecosystem, the Reserve Bank of India (RBI) is expected to come out with guidelines for issuing licenses to operate in the point of sales (POS) business. Third-party POS operators would have to obtain licenses to function in the space. The move is expected to impact players such as Pine Labs, MSwipe, Paytm and BharatPe to name a few.According to highly placed sources, the objective of introducing a licensing framework is to ensure harmony in operations and establish level playing field between online and offline payment operators. “Regulated entities such as…
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RBI to bring POS players under license regime
