Payment Gateway Registration

Know The Requirements to Start Payment Gateway in India


Digitization has really pushed the need for payment gateway. India, a country that has just tasted the sweet taste that clean electronic transactions can bring, is now pushing for more payment gateways in the country. So, if you’re an entrepreneur with a technical background and the know how of a payment gateway, now is the time to shine.

But not before you know the requirements to start a payment gateway in India.

Payment Gateway Registration Process Has High Requirements

The elements of payment gateway process are complex. It requires you to encrypt the user data,  get it authenticated through banks and finally finalizing the transactions. All the while, you have to create a secure tunnel within which this transaction happens with no way for someone else to look at the details.

Needless to say, this complex form of business requires the Reserve bank of India to ask for a good number of requirements from you, and that doesn’t include the payment gateway registration cost.

The requirements of obtaining the payment gateway registration are made that way because the Reserve bank of India wants to be certain that:

  1. Your payment gateway doesn’t compromise the details of the end users
  2. Your payment gateway adheres to the operating protocols that exist for electronic transactions.
  3. And, the payment gateway charges in India that you ask for doesn’t intervene with the payer’s desire to properly conduct electronic transactions.

Everything about the your payment gateway: from the way that it’s designed to the way it adheres to the RBI rules has to be perfect. Thus, in a way, RBI’s requirements for payment gateway registration process is to assess your perfect payment gateway technology.

Eligibility Criteria to Apply for The Payment Gateway License in The First Place

Without the financial stability, a good business infrastructure, and a good business plan you can’t hope to sustain your payment gateway business. That’s why, RBI asks that only those who adhere to the following points get to apply for the license:

  1. You must apply for the license as a private or a public limited company.
  2. Your net worth should be at least 15 Crore rupees
  3. Your business have a recipe for success. Your business plan should guarantee that your net worth increases to 25 Crore rupees after three years of operation.

At the time of payment gateway registration, if you don’t come bearing the above eligibility points, you shouldn’t come at all. Because things only start to get difficult from this point forward.

Other Useful Resource: SE Ranking Review

Requirements of Starting a Payment Gateway

Following are the requirements that RBI has set forth that you must provide to the Authority at the time of registration. Forget even one point and RBI will frown upon the idea of issue you the payment gateway registration in India.

  1. Certificate of Incorporation: AS a proof that you’ve incorporated your payment gateway business and have given it a structure, provide the certificate of incorporation.
  2. MOA and AOA: The memorandum of association of MOA of your company should highlight that the objective of your company is to run a payment gateway.
  3. DSC of the directors: As the process is online, all the directors of that company must have a digital signature certificate.
  4. Bank account details: To test the net worth of your company, RBI asks the bank account details.
  5. Business plan: To see if you have a business plan that can enhance your net worth to INR 25 Crores in 3 years, RBI asks for your business plan.
  6. GST certificate: Your business infrastructure should have a GST certificate. If you don’t, you should obtain it as soon as possible.
  7. Source code of the software: Reserve bank of India has in house experts who can assess the code to see your payment gateway has all the right qualities.

Reads More: Top 5 Simple Tips to Use Your Shop Loan Smartly in 2021


Armed with the mentioned requirements, RBI won’t have to assess you much before granting you the payment gateway license in India. For more information about that, and about the payment gateway registration fees, be sure to contact our experts.

Leave a Reply

Your email address will not be published. Required fields are marked *