Introduction
RBI Guidelines for Adding a Payment Gateway in India
UPI Supported Payment Gateways
Introduction
Muvi provides comprehensive support for UPI (Unified Payment Interface) and Indian payment gateways, allowing you to seamlessly integrate these payment methods into your streaming platform. By offering support for UPI and Indian payment gateways, Muvi empowers businesses to cater to the growing demand for digital payments in India. Whether it's accepting payments for subscriptions, purchases, or rentals, Muvi ensures a smooth and hassle-free experience for your end-users. However, the RBI (Reserve Bank of India) has imposed certain restrictions on Indian payment gateways. You must understand the RBI guidelines before integrating a payment gateway in India.
RBI Guidelines for Adding a Payment Gateway in India
The Reserve Bank of India (RBI) has implemented certain guidelines and restrictions on Indian payment gateways to ensure the security and efficiency of online transactions. These guidelines, known as the "Guidelines on Regulation of Payment Aggregators and Payment Gateways," aim to protect the interests of consumers and promote a safe digital payment ecosystem.
Payment aggregators and payment gateways play a crucial role in facilitating online transactions, allowing businesses to accept payments from customers through various channels such as credit cards, debit cards, net banking, or digital wallets. However, to maintain transparency and prevent any misuse or fraudulent activities, the RBI has imposed certain restrictions on Indian payment gateways.
The guidelines on the regulation of payment aggregators and payment gateways issued by the RBI outline various requirements that these entities must adhere to. These include obtaining necessary approvals from the RBI before commencing operations, ensuring compliance with Know Your Customer (KYC) norms for customer verification, implementing robust risk management systems, maintaining transaction records for audit purposes, and adhering to data security standards.
UPI Supported Payment Gateways
Razorpay Payment Gateway
As part of our payment gateway integration, we support UPI via the Razorpay Payment Gateway. Razorpay is a popular and trusted payment gateway in India, enabling businesses to accept UPI payments effortlessly. With Muvi's integration with Razorpay, businesses can offer their customers the convenience of making payments through popular UPI apps such as PhonePe and Google Pay.
Stripe Payment Gateway
In addition to UPI support, Muvi also extends its compatibility to another widely used payment gateway like Stripe. The gateway has been approved by the Reserve Bank of India (RBI) and is known for its reliability and security.
Support for Other Payment Gateways
You can also opt for integrating other payment gateways like Adyen, Google Pay, or Phone Pay as these gateways are supported by RBI.
Note: - Stripe doesn’t subscriptions but supports only “PPV(Pay Per View)” for the UPI payment method
- Adyen supports the "Subscription" monetization for the UPI payment method.
- Hence, before adding a Payment Gateway with UPI, please check the details with the Payment Gateway support to know which payment methods are available with that payment gateway.
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