New-Merchant Onboarding Not Allowed On Top Payment Aggregators

New-Merchant Onboarding Not Allowed On Top Payment Aggregators

Reserve Bank Of India has asked several payment partners such as Razorpay, Stripe, and Cashfree to pause onboarding new merchants until the central bank issues a payment aggregator license to them.

Recently RBI also asked Paytm to re-submit the application to operate as a PA and till then they too can’t onboard new merchants. 

If you are a new merchant then this might affect you, thus to help you overcome it we have done the work and jotted down the solution in this post. 

So, let’s dive in and check the content in this post-

Why Is The Payment Gateway Not Working In India?

During an interview with the governor of RBI, Mr. Shakitanta Das, it was made clear that a single entity can not continue to provide an ecommerce marketplace along with payment aggregator services, and such payment aggregators must be separated from the e-commerce marketplace businesses. 

However, it’s still unclear why RBI has taken such a move and blocked the integration of new ecommerce merchants. They have already denied the request of companies like Mobikwik-owned Zaakpay, and platforms like Swiggy, Zomato, Google, etc, too have not successfully obtained a PA license. 

This means they have to rely on licensed payment gateway operators to serve as an intermediary for transactions on their platform. 

However, the existing users don’t have to worry about banning all these services. 

Here Is A List Of All The Aggregators Whoes Applications Were Returned By The RBI

Name Application Returned On 
FreeCharge Payment Technologies Private Limited 10th/Feb/2023
PayTM Payment Services Limited 25/Nov/2022
PayU Payments Private Limited 10/Jan/2023
Tapits Technologies Private Limited 10/02/2023

How To Enable Payment Gateway In Your Store?

Payments partners

PhonePay’s payment integration is currently working and new merchants are allowed to be a part of it. Apart from that there are some new payment aggregators that can also operate as online payment aggregators-

  • Tata Payments Limited Ltd.
  • Zoho Payments Technologies Ptv Limited
  • Mswipe Technology PVT limited. 

You can partner with these service providers and facilitate online transactions on your store. These service providers will help you carry out online transactions on your store like credit card transactions, debit card transactions, net banking, and more. 


Now, in the end, we hope that you were able to gain insights into why new merchants are not allowed to integrate with popular payment aggregators like Razorpay, Stripe, and more. 

However, if you are in the market looking for steps to create your own mobile app and website, then you are at the right place. Appic Softwares can help you create apps across any industry ranging from Astrology, Finance, Automotive, to Ecommerce. 

We have an experienced team of developers that use the latest technologies like Flutter, React, AI, and more to launch your application. 

Additionally, we are providing free project designing of your mobile app and website that you should check out. 

So, what are you waiting for?

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