{"id":2342,"date":"2021-02-16T06:31:23","date_gmt":"2021-02-16T06:31:23","guid":{"rendered":"https:\/\/swaritadvisors.com\/blog\/?p=2342"},"modified":"2021-02-16T13:25:03","modified_gmt":"2021-02-16T13:25:03","slug":"requirements-for-payment-bank-license","status":"publish","type":"post","link":"https:\/\/swaritadvisors.com\/blog\/requirements-for-payment-bank-license\/","title":{"rendered":"Requirements for Payment Bank License: A Complete Guide"},"content":{"rendered":"\n<p class=\"has-drop-cap\">The dynamics of Indian Economic System have completely\nchanged after Demonetization. People now rely more on paperless transactions\nand prefer to use digital payment portals instead of the traditional method. Therefore,\nthe same has given an immediate boost to Mobile Wallets or E-wallets that were\noutcast earlier. Further, the primary niche of such digital gateways is payment\nbanks. To start an online gateway in India, one needs to satisfy the\nrequirements for <strong><a href=\"https:\/\/swaritadvisors.com\/payment-bank-license\" class=\"text-primary\">Payment Bank License<\/a><\/strong>.<\/p>\n\n\n\n<p>In this blog, we will discuss about the concept and\nrequirements for Payment Bank License in India.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3b16781d53c\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3b16781d53c\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/swaritadvisors.com\/blog\/requirements-for-payment-bank-license\/#Concept_of_Payments_Bank_in_India\" title=\"Concept of Payments Bank in India\">Concept of Payments Bank in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/swaritadvisors.com\/blog\/requirements-for-payment-bank-license\/#Objective_of_Payments_Bank_in_India\" title=\"Objective of Payments Bank in India\">Objective of Payments Bank in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/swaritadvisors.com\/blog\/requirements-for-payment-bank-license\/#Features_of_Payments_Bank_in_India\" title=\"Features of Payments Bank in India\">Features of Payments Bank in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/swaritadvisors.com\/blog\/requirements-for-payment-bank-license\/#Regulatory_Framework_for_Payment_Banks_in_India\" title=\"Regulatory Framework for Payment Banks in India\">Regulatory Framework for Payment Banks in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/swaritadvisors.com\/blog\/requirements-for-payment-bank-license\/#Who_are_all_Eligible_to_Obtain_Payments_Bank_License_in_India\" title=\"Who are all Eligible to Obtain Payments Bank License in India\">Who are all Eligible to Obtain Payments Bank License in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/swaritadvisors.com\/blog\/requirements-for-payment-bank-license\/#Examples_of_Payment_Bank_in_India\" title=\"Examples of Payment Bank in India\">Examples of Payment Bank in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/swaritadvisors.com\/blog\/requirements-for-payment-bank-license\/#Capital_Requirements_for_Payment_Bank_License\" title=\"Capital Requirements for Payment Bank License\">Capital Requirements for Payment Bank License<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/swaritadvisors.com\/blog\/requirements-for-payment-bank-license\/#Detail_Requirements_for_Payment_Bank_License\" title=\"Detail Requirements for Payment Bank License\">Detail Requirements for Payment Bank License<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/swaritadvisors.com\/blog\/requirements-for-payment-bank-license\/#Details_of_an_Individual_Partner\" title=\"Details of an Individual Partner\">Details of an Individual Partner<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/swaritadvisors.com\/blog\/requirements-for-payment-bank-license\/#Details_of_the_Entity_Promoting_Bank\" title=\"Details of the Entity Promoting Bank\">Details of the Entity Promoting Bank<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/swaritadvisors.com\/blog\/requirements-for-payment-bank-license\/#Details_of_the_Entity_and_Individuals_in_the_Promoter_Group\" title=\"Details of the Entity and Individuals in the Promoter Group\">Details of the Entity and Individuals in the Promoter Group<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/swaritadvisors.com\/blog\/requirements-for-payment-bank-license\/#Business_Plan_Requirements_for_Payment_Bank_License\" title=\"Business Plan Requirements for Payment Bank License\">Business Plan Requirements for Payment Bank License<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/swaritadvisors.com\/blog\/requirements-for-payment-bank-license\/#Post_Registration_Requirements_for_Payment_Bank_License\" title=\"Post Registration Requirements for Payment Bank License\">Post Registration Requirements for Payment Bank License<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/swaritadvisors.com\/blog\/requirements-for-payment-bank-license\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Concept_of_Payments_Bank_in_India\"><\/span>Concept of Payments Bank in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The term Payments Bank denotes a new bank model that\nwas started by the RBI in the year 2014. These banks can accept a restricted\ndeposit of maximum Rs 1 lakh per customer, which will increase further.<\/p>\n\n\n\n<p>Although these banks are an addition to the banking\nsector, but they do not offer issuance of loans and credit card facilities. Normally,\na payment bank offers a series of services, such as ATM Cards, Debit Cards.\nBut, after satisfying the requirements for Payment Bank License and obtaining\nit, an entity can work on current and saving accounts as well.<\/p>\n\n\n\n<p>Further, based on the provisions of the <a href=\"https:\/\/en.wikipedia.org\/wiki\/Banking_Regulation_Act,_1949\">Banking\nRegulations Act 1949<\/a>, it is mandatory for a payment bank or a\ndifferentiated bank to allow the establishment of new outlets, such as ATMs\n(Automated Teller Machines), BCs (Business Correspondents). However, the same\ncannot indulge in the activities undertaken by a bank.<\/p>\n\n\n\n<p>Also, it shall be considerate to take into consideration that the minimum paid up capital needed to start a payment is Rs 100 crores or more.<\/p>\n\n\n\n<p><strong>Also, Read:<\/strong> <mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/swaritadvisors.com\/learning\/top-5-best-payment-gateway-systems-in-india\/\">Top 5 Best Payment Gateway Systems in India<\/a><\/mark><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Objective_of_Payments_Bank_in_India\"><\/span>Objective of Payments Bank in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The key objectives of a Payment Bank in India are as follows:<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/02\/To-Assist-Small-Businesses-and-Low-Income-Strata.png\" alt=\"Objectives of a Payment Bank in India\" class=\"wp-image-2351\" width=\"608\" height=\"221\" srcset=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/02\/To-Assist-Small-Businesses-and-Low-Income-Strata.png 953w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/02\/To-Assist-Small-Businesses-and-Low-Income-Strata-300x109.png 300w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/02\/To-Assist-Small-Businesses-and-Low-Income-Strata-768x280.png 768w\" sizes=\"(max-width: 608px) 100vw, 608px\" \/><\/figure><\/div>\n\n\n\n<ul><li>To Assist Small\nBusinesses and Low Income Strata;<\/li><li>To Assist Low\nMigrant Labour Workforce;<\/li><li>To Infuse\nFinancial Support in Remote Areas;<\/li><li>To Redefine\nIndian Economy with Secured <strong><a href=\"https:\/\/swaritadvisors.com\/payment-gateway-license\" class=\"text-primary\">Online Payment\nGateway<\/a><\/strong>;<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Features_of_Payments_Bank_in_India\"><\/span>Features of Payments Bank in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The key features of Payments Bank License in India are as follows:<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/02\/Provides-Deposit-up-to-Rs-1-lakh-1024x214.png\" alt=\"Features of Payments Bank in India\" class=\"wp-image-2353\" width=\"786\" height=\"164\" srcset=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/02\/Provides-Deposit-up-to-Rs-1-lakh-1024x214.png 1024w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/02\/Provides-Deposit-up-to-Rs-1-lakh-300x63.png 300w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/02\/Provides-Deposit-up-to-Rs-1-lakh-768x161.png 768w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/02\/Provides-Deposit-up-to-Rs-1-lakh.png 1500w\" sizes=\"(max-width: 786px) 100vw, 786px\" \/><\/figure><\/div>\n\n\n\n<ul><li>Provides Deposit\nup to Rs 1 lakh;<\/li><li>Offers both\nPhysical and Virtual Credit Cards;<\/li><li>Smoothens out\nthe Process of Receiving Money through Digital Platforms;<\/li><li>Eliminates the\nNeed of Conventional Banks;<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Regulatory_Framework_for_Payment_Banks_in_India\"><\/span>Regulatory Framework for Payment Banks in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The laws governing the operations of Payment Bank in\nIndia are as follows:<\/p>\n\n\n\n<ul><li>Companies Act 2013;<\/li><li>Banking\nRegulation Act 1949;<\/li><li>Reserve Bank of\nIndia 1934;<\/li><li>Foreign Exchange\nManagement Act 1999;<\/li><li>Payment and\nSettlement System Act 2007;<\/li><li>Deposit\nInsurance and Credit Guarantee Corporation Act 1961;<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Who_are_all_Eligible_to_Obtain_Payments_Bank_License_in_India\"><\/span>Who are all Eligible to Obtain Payments Bank License in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The ones eligible to obtain Payments Bank License in\nIndia are as follows:<\/p>\n\n\n\n<ul><li>Individuals\/\nProfessionals;<\/li><li>Mobile Telephone\nCompanies;<\/li><li>NBFCs (Non-Banking\nFinancial Companies);<\/li><li>Real Estate\nSector Cooperatives;<\/li><li>Supermarket\nChains;<\/li><li>PSUs (Public\nSector Entities);<\/li><li>Any Promoter or\na Group of Promoters, who have a JV (Joint Venture Agreement) with an existing\nSchedule Bank;<\/li><li>Existing\nNon-bank PPI (Prepaid Payment Instrument) under the provisions of the Payment\nand Settlement Systems Act 2007;<\/li><li>Public\nCompanies;<\/li><li>Corporate\nBusiness Structures;<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Examples_of_Payment_Bank_in_India\"><\/span>Examples of Payment Bank in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Some of the famous examples of Payments Banks in\nIndia are as follows:<\/p>\n\n\n\n<ul><li>Airtel M\nCommerce Private Ltd;<\/li><li>National\nSecurities Depository Limited (NSDL);<\/li><li>Fino Pay Tech\nLtd;<\/li><li>Vodafone M Pesa\nLimited;<\/li><li>Distribution\nService Limited;<\/li><li>Reliance\nIndustries Limited;<\/li><li>Paytm Payments\nBank;<\/li><li>Tech Mahindra\nLimited;<\/li><li>Department of\nPost Aditya Birla Nuvo Limited;<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Capital_Requirements_for_Payment_Bank_License\"><\/span>Capital Requirements for Payment Bank License<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The capital requirements for Payment Bank License\nare as follows:<\/p>\n\n\n\n<ul><li>Must have Rs 100\ncrores as the Minimum Paid-up Equity Capital;<\/li><li>Need to maintain\n15% as the Minimum Capital Adequacy Ratio of the Risk Weighted Assets (RWA).\nThe same is subject to any higher percentage as timely prescribed by RBI;<\/li><li>Tier I capital\nmust be at least 7.5% of the total Risk Weighted Assets;<\/li><li>Tier II capital\nmust be limited to a maximum of 100% of the Tier I capital;<\/li><li>Not allowed to\ndeal in sophisticated products. That means the Capital Adequacy Ratio is\ncalculated based on the Basel Committee Standardised Approaches;<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Detail_Requirements_for_Payment_Bank_License\"><\/span>Detail Requirements for Payment Bank License<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The detail requirements for Payment Bank License in\nIndia are as follows:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Details_of_an_Individual_Partner\"><\/span>Details of an Individual Partner<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The details required from an individual partner\ninclude as follows:<\/p>\n\n\n\n<ul><li>Promoter\u2019s Name;<\/li><li>Date of Birth;<\/li><li>Parents Name;<\/li><li>Residential\nAddress;<\/li><li>PAN (Permanent\nAccount Number);<\/li><li>Bank Account\nDetails, together with Branch Name and Credit Facilities;<\/li><li>Experience and\nQualification of Individual Partner;<\/li><li>&nbsp;Areas of Expertise;<\/li><li>Business Track\nRecord and Financial Worth;<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Details_of_the_Entity_Promoting_Bank\"><\/span>Details of the Entity Promoting Bank<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The details required from such an entity are as follows:<\/p>\n\n\n\n<ul><li>Shareholding\nPattern of the Promoter Entity;<\/li><li>A copy of the\nMOA and AOA of the Entity;<\/li><li>Financial\nStatements of the previous five financial years;<\/li><li>Income Tax\nReturn of the previous three financial years;<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Details_of_the_Entity_and_Individuals_in_the_Promoter_Group\"><\/span>Details of the Entity and Individuals in the Promoter Group<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The details required from such an entity and\nindividuals are as follows:<\/p>\n\n\n\n<ul><li>Name of the\nEntities in the Promoter Group;<\/li><li>Name of the\nIndividuals in the Promoter Group;<\/li><li>Shareholding\nPattern;<\/li><li>Management\nDetails;<\/li><li>Details of the\nTotal Assets;<\/li><li>Pictorial\nOrganogram;<\/li><li>Annual Report\nfor the previous five financial years;<\/li><li>Details\nconcerning the Shares Listed in the Recognised Stock Exchanges;<\/li><li>PAN (Permanent\nAccount Number) details;<\/li><li>CIN (Company\nIdentification Number);<\/li><li>TAN (Tax\nDeduction &amp; Collection Account Number) details;<\/li><li>Bank Account and\nBranch Details;<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Business_Plan_Requirements_for_Payment_Bank_License\"><\/span>Business Plan Requirements for Payment Bank License<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The Business Plan Requirements for Payment Bank\nLicense are as follows:<\/p>\n\n\n\n<ul><li>The applicant company needs to submit their Business Plans, Project Report, together with Applications;<\/li><li>The <strong><a href=\"https:\/\/swaritadvisors.com\/business-plan\" class=\"text-primary\">Business Plan<\/a><\/strong> must discuss about the ways by which the bank proposes to achieve its purposes and objectives of setting up payments bank;<\/li><li>Business Plan must be Accurate and Practical in Nature. Also, it shall be noteworthy to take into note that, out of all the applications, first preference will be given to those who will establish their access points in the underdeveloped states and districts, such as East, Central, and North-East regions of the nation;<\/li><li>It shall be obligatory for a Payments Bank to extend the network of the access points in the remote areas, either by way of Business Correspondents or through their own Branch Network or the Networks provided by other;<\/li><li>Every Payment Bank needs to adopt Technological Solutions to extend its reach, network, and lowers cost as well;<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Post_Registration_Requirements_for_Payment_Bank_License\"><\/span>Post Registration Requirements for Payment Bank License<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The post registration requirements for Payment Bank\nLicense are as follows:<\/p>\n\n\n\n<ul><li>Not allowed to\naccept NRI Deposits;<\/li><li>Need to maintain\nthe Minimum Paid up Capital of Rs 100 crores;<\/li><li>Can provide ATM\nor Debit Cards to Clients;<\/li><li>Cannot offer\nLoan and Visa Administrations;<\/li><li>Allowed to accept\nCurrent Deposits;<\/li><li>Allowed to\naccept Investment Fund Bank Deposits from Private Ventures up to a prescribed\nthreshold;<\/li><li>&nbsp;Need to accept the listed RBI Compliances on the\nmandatory basis:<\/li><\/ul>\n\n\n\n<ol><li>Data Security;<\/li><li>Cyber Laws;<\/li><li>Electronic Banking and Technology Risk Management;<\/li><\/ol>\n\n\n\n<ul><li>Must use \u201cPayments Bank\u201d as a suffix, to differentiate itself from traditional banks;<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In\na nutshell, Payments Bank means a new bank model implemented by the Apex Bank\nin the year 2014. This business structure offers a series of services, such as\nATM Cards, Debit Cards. However, it shall be noteworthy to state that it is not\nallowed to offer loans and credit card facilities. <\/p>\n\n\n\n<p>The main reason behind the introduction of this concept was to assist Small Businesses, Migrant Labour Force, and Low Income Strata, and to infuse Financial Support in Remote Areas, which will ultimately help in the process of redefining Indian Economy.&nbsp;  Further, to start a Payments Bank in India, the applicant company needs to satisfy the above mentioned complex and intricate formalities and responsibilities. At <strong><a class=\"text-primary\" href=\"https:\/\/swaritadvisors.com\/\">Swarit Advisors<\/a><\/strong>, we have a team of expert who will cater to all your doubts and queries and will assist in the process of obtaining Payment Bank License in a hassle free and straight forward manner.<\/p>\n\n\n\n<p><strong>Also, Read:<\/strong> <mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/swaritadvisors.com\/learning\/meaning-and-process-of-online-payment-gateway-in-india-2020\/\">Meaning and Process of Online Payment Gateway in India 2020<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The dynamics of Indian Economic System have completely changed after Demonetization. People now rely more on paperless transactions and prefer to use digital payment portals instead of the traditional method. Therefore, the same has given an immediate boost to Mobile Wallets or E-wallets that were outcast earlier. Further, the primary niche of such digital gateways [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":2343,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[391],"tags":[390],"acf":[],"_links":{"self":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/2342"}],"collection":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/comments?post=2342"}],"version-history":[{"count":14,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/2342\/revisions"}],"predecessor-version":[{"id":2368,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/2342\/revisions\/2368"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/media\/2343"}],"wp:attachment":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/media?parent=2342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/categories?post=2342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/tags?post=2342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}