Latest news with #RBI-certified
Time Business News
4 days ago
- Business
- Time Business News
RBI-Certified Gateways for Safe Online Transactions
In the ever-expanding Indian digital economy, ensuring secure and compliant online transactions is non-negotiable for businesses of all sizes. Whether you're running an e-commerce store, a SaaS platform, or offering services online, using an RBI-approved payment gateway is crucial. It ensures that your financial transactions meet regulatory standards, instills trust in your customers, and safeguards your business against fraud. This blog explores the best RBI-certified payment gateways for Indian businesses, along with their features, pricing, and benefits. The Reserve Bank of India (RBI) is the regulatory authority overseeing all payment systems in the country. A payment gateway that is 'RBI-certified' or 'RBI-authorized' adheres to the guidelines under: Payment and Settlement Systems Act Know Your Customer (KYC) guidelines Data localization mandates PCI-DSS compliance Choosing an RBI-compliant gateway ensures your business operates within legal boundaries while maintaining high levels of security and transparency. Regulatory Compliance: Avoid penalties and legal risks by meeting Indian fintech standards. Data Security: Protect customer card and banking information with advanced encryption and fraud detection. Global and Domestic Coverage: Ensure compatibility with Indian payment systems like UPI, RuPay, and international cards. Trust and Credibility: Customers are more likely to transact when they see familiar and secure payment options. Overview: Razorpay is a leading full-stack financial solutions provider in India, trusted by over 10 lakh businesses. Key Features: Supports UPI, cards, net banking, EMI, and wallets Instant activation and API integration Smart payment routing and retry options Supports recurring billing Pricing: 2% per transaction for domestic payments Additional fees for international and American Express cards RBI Compliance: Licensed as a Payment Aggregator under RBI guidelines Overview: A product by Paytm, one of India's largest digital payment platforms. Key Features: Accepts UPI, cards, wallets, net banking Instant refunds and dynamic QR codes High transaction success rate Developer-friendly API Pricing: ~1.75% per transaction (varies by payment method) RBI Compliance: Operates under RBI's Payment Aggregator license Follows strict data localization norms Overview: Cashfree is known for its quick onboarding and seamless API experience. Key Features: Offers 120+ payment options including UPI AutoPay Payouts, subscriptions, and split payments available Easy-to-integrate SDKs Pricing: UPI: Free or low-cost Cards and Net Banking: ~1.9% per transaction RBI Compliance: Licensed as a Payment Aggregator RBI-approved nodal account operations Overview: A veteran in the Indian payment space, widely used by enterprises and SMEs. Key Features: Multilingual checkout pages Smart analytics dashboard 200+ payment options Mobile-friendly checkout Pricing: Starts at 2% per transaction Custom pricing for large volumes RBI Compliance: Operates under RBI norms and PA licensing Strong focus on PCI-DSS and encryption standards Overview: A trusted payment aggregator used by top brands like Netflix, Airbnb, and Myntra. Key Features: Offers Smart Routing and One Tap payments Advanced fraud detection Subscription billing supported Pricing: ~2% for cards and wallets Custom pricing for enterprises RBI Compliance: Certified under RBI's Payment Aggregator guidelines Overview: Great for startups and solo entrepreneurs with simple setup and no-code tools. Key Features: Zero maintenance cost UPI and card support Instant payout options Mobile and web plugins available Pricing: Flat 2% + ₹3 per transaction RBI Compliance: Operates as a PA under RBI norms Here are factors to consider: Criteria Considerations Pricing Look beyond per-transaction fees. Evaluate hidden charges, setup fees, etc. Payment Modes Supported Ensure support for UPI, cards, net banking, wallets, EMI, etc. Integration Ease Go for gateways that offer APIs, plugins, and SDKs compatible with your tech stack Customer Support 24/7 support is crucial for uninterrupted business operations Payout Speed Faster settlements can boost your cash flow Security & Compliance PCI-DSS, SSL, tokenization, and KYC adherence are must-haves Using an RBI-certified payment gateway is not just a best practice—it's a necessity. With increasing regulatory scrutiny and customer expectations for data privacy and smooth transactions, Indian businesses must opt for gateways that comply with RBI norms. Whether you're a startup, SME, or enterprise, platforms like Razorpay, Paytm, Cashfree, and PayU offer secure, scalable, and cost-effective solutions tailored to your needs. Looking to integrate a payment gateway for your business? Partner with an experienced tech team like Infowind Technologies to seamlessly implement secure payment systems aligned with RBI standards. TIME BUSINESS NEWS
Mint
24-06-2025
- Business
- Mint
Gold loan: How it works and what borrowers must know
In a country like India that has a rich cultural heritage; where gold has intrinsic financial value and sentimental value, a gold loan gives you the ability to leverage the value of your jewellery without selling it. The loan can also be a quick and flexible funding option, for a range of needs, such as business, weddings, education, and medical situations. Let's take a look at the key features of a gold loan in India, and what recent RBI directives a borrower should be aware of. A gold loan is a type of secured loan by banks or a non-banking financial company, when it is secured against a bar of gold, coins, or jewellery in exchange for the loan. Loan to value is the percentage of the gold's market price used to qualify a loan amount, and the borrower gets the gold back when both principal and interest are paid off. Loan application: You take your gold to a NBFC or bank; the lender considers the weight and purity of the gold. You take your gold to a NBFC or bank; the lender considers the weight and purity of the gold. Assessment and valuation of gold: The lender uses the current market rate to assess and value the gold. The NBFC or bank will only accept gold that is 18 to 24 carat. The lender uses the current market rate to assess and value the gold. The NBFC or bank will only accept gold that is 18 to 24 carat. Loan amount disbursement: The lender will disburse the loan amount, generally at the time of application based on the LTV ratio that in general is up to 75% of the gold value. The lender will disburse the loan amount, generally at the time of application based on the LTV ratio that in general is up to 75% of the gold value. Loan payment options: The borrower can choose from bullet repayment options, EMIs, or simply pay the principal at the end of the loan term and the interest over the loan term. The borrower can choose from bullet repayment options, EMIs, or simply pay the principal at the end of the loan term and the interest over the loan term. Return of your gold: Once the loan has been repaid in full, your gold would be returned in the same condition as when deposited. Fast disbursement, very often in under 10 minutes. Gold is the collateral, so no proof of income. Flexible term, typically, between three and thirty-six months. Lower interest rates compared to unsecured loans. Credit score is not affected unless there is a default. In April 2025, the Reserve Bank of India (RBI) released draft rules to promote more transparency and better protect borrowers in the gold loan sector. Strict vaulting procedures: Banks must ensure that pledged gold is stored in vaults or lockers under RBI-certified institutions or organisations. Banks must ensure that pledged gold is stored in vaults or lockers under RBI-certified institutions or organisations. Regular audit and valuation standards: It may be worthwhile to require conformity in the valuation of gold and regular third party audits. It may be worthwhile to require conformity in the valuation of gold and regular third party audits. Digital consent: Borrowers should digitally consent to the application purpose to give them adequate time to understand borrowing. Borrowers should digitally consent to the application purpose to give them adequate time to understand borrowing. Capping loan term: To minimise rollover risk, the RBI can place caps on loan terms. To minimise rollover risk, the RBI can place caps on loan terms. Capping loan limit in cash: Any loan in cash terms (above ₹ 20,000) must be disbursed through banks. Any loan in cash terms (above 20,000) must be disbursed through banks. Disclosure requirements: Lenders must disclose interest rates, terms of auctions and service fees in simple terms to borrowers. Lenders must disclose interest rates, terms of auctions and service fees in simple terms to borrowers. Auction control: Auctions (in case of default) should follow fair and transparent processes. Auctions (in case of default) should follow fair and transparent processes. Insurance of gold: It may be normal and prudent for lenders to purchase insurance to cover pledged gold from losing ownership or theft. It may be normal and prudent for lenders to purchase insurance to cover pledged gold from losing ownership or theft. LTV ratio cap: The cap on LTV ratio at 75% must be followed; to prevent over-leverage. Gold loans are ideal for people who want fast liquidity without the hassles of a lot of paperwork and approvals. However, borrowers should act with caution: Compare interest rates and fees. Understand how repayment will work. Have a plan for how you'll utilise your gold. In conclusion, yes, gold loans are quick, easy and often cheaper than a personal loan, however they still come at a cost. The RBI's new regime will provide a greater measure of safety and uniformity; with this, standard borrowers will have greater access to these loans. Disclaimer: Mint has a tie-up with fin-techs for providing credit, you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit score. Mint does not promote or encourage taking credit as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit.
