PAs are entities that facilitate e-commerce sites and merchants to accept various payment instruments from customers for the completion of their payment obligations without the need for merchants to create a separate payment integration system of their own.
PGs are entities that provide technology infrastructure to route and facilitate the processing of an online payment transaction without any involvement in the handling of funds.
How it works?
We share audit charter with the auditee highlighting the roles and responsibilities of the audit function as well as the audit objectives.
We provide Auditee a DRL highlighting the required policies and further analysis of the same will be performed in line with the compliance.
Document Requirement List
Quantitative/Qualitative Risk Assessment will be conducted for every business process in scope and risk will be analyzed.
Identification & Analysis
Action points as well as risk response methodology will be suggested via GAP Assessment Report and an action plan will be asked from the auditee.
We conduct review again post-deployment of the mitigations.
Do you know?
The global payment aggregator and gateway market is expected to reach.
CAGR growing between 2016 and 2022.
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Guidelines on Regulation of Payment Aggregators and Payment Gateways
(DPSS.CO.PD.No.1810/02.14.008/2019-20 dated March 17, 2020)
Directions for opening and operation of Accounts and settlement of payments for electronic payment transactions involving intermediaries DPSS.CO.PD.No.1102 /02.14.08/ 2009-10
Clarification issued by RBI on circular DPSS.CO.PD.No.1810/02.14.008/2019-20 dated March 17, 2020 (as updated from time to time) on “Guidelines on Regulation of Payment Aggregators (PAs) and Payment Gateways (PGs)
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