NPCI issued the Guidelines on Merchant

Jan 30, 2025 | by TeamLease RegTech Legal Research Team

Free Legal updates for the week 00

Industry Specific Compliance The National Payments Corporation of India (NPCI) on January 29, 2025, issued the Guidelines on Merchant Acquiring in UPI by co-operative banks.

The following has been stated namely: -

• It states that co-operative banks shall participate as UPI merchant acquirers, provided they comply with regulations set by the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI).

• It further states that only Co-operative banks onboarded as direct members of UPI shall be eligible to function as acquirers.

[Notification no. - NPCI/UPI/OC212/2024-25]

View Document 1