NPCI notified regarding the Capturing & Transmitting Unmodified Information for Payment Transactions (Modes) routed through Bharat Connect platform

Sep 29, 2024 | by TeamLease RegTech Legal Research Team

Free Legal updates for the week 00


Industry Specific ComplianceThe National Payments Corporation of India (NPCI) on September 17, 2024, notified regarding the Capturing & Transmitting Unmodified Information for Payment Transactions (Modes) routed through the Bharat Connect platform.

The following has been stated:

• The NPCI Bharat BillPay Limited (NBBL) shall monitor the integrity of payment information from time to time. COUs/AIs observed as noncompliant shall be subject to actions including but not limited to business discontinuance, monetary penalty and/or penal action, depending on the severity of the situation.

• It has urged all ecosystem partners to follow the guidelines that are meant to ensure a safe and secure payment system and work towards building customer trust.

[Notification No NPCI/2024-25/BBPS/009]


Bookmark

Related Updates



Alternate Text

Get updates on the go on RegUpdate Mobile App.

NEW  ·  AI ASSISTANT