RBI Governor announces 2024 launch of interoperable payment system for internet banking, improving merchant payment settlements.
RBI Governor Shaktikanta Das announced the launch of an interoperable payment system for internet banking, likely in 2024. The system will facilitate quicker settlement of funds for merchants and improve user confidence in digital payments. Currently, transactions processed through Payment Aggregators (PAs) are not interoperable, which can result in delays in payment settlements for merchants.
March 04, 2024
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