RBI has directed Razorpay to stop onboarding new merchants

Razorpay has been instructed by RBI to halt onboarding as of December 15, 2022, while it works to meet a few requirements necessary to secure a final payment aggregator (PA) licence.

According to media reports, other platforms including Cashfree and Stripe have also been told to halt onboarding new online merchants, however, Stripe said they haven’t received such commands from RBI.


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