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payment aggregator

Payment KYC RMG UPINews

Zero MDR on UPI, gaming ban and now re-KYC: Govt puts payment aggregators in a bind

Marred by wafer-thin margins and zero MDR on UPI, payment aggregators such as Razorpay, Paytm, PhonePe and Cashfree are now burdened with re-KYC of all merchants under the new RBI Master Direction on Payment Aggregators (September 2025).

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