Get the Eligibility to apply for RBI payment gateway license

 If you’ve gotten access to the device from which you’re reading this article from the internet,Get the Eligibility to apply for RBI payment gateway license Articles remember that payment gateway license is possible. If you can sit at your homes and browse through the internet and buy and get things delivered to you, remember that payment gateway in India has made it possible. 


And if you, like me, can see the dream of getting a digital India transformed into a reality, remember that it’s payment gateway, India has made it possible. 


The current market of payment gateway is too small and too niche. And although the government has made some changes to the formula – reducing prices and cutting the transaction costs – there are many who still want to go into the market. 


What’s the reason? Why the business of setting a payment gateway of India that has so much profitable opportunities is shunned by so many? The reason is simple. The eligibility requirements are high. 


Through this article, we are giving you a simple formula; a tip if you will, to get the eligibility to apply for payment gateway license. 


The things you have to be to become capable of applying for the license


To become capable of applying for the payment gateway license, you need to be and have the following:


 


You should be a either a private or a public limited company. 

You should have been certified by the PCI DSS body. 

Your net worth should be at least 15 Crore.

Your net worth should increase after to the first three years of business to 25 Crore. 

 


To make the list even simpler:


Your business should have a legal identity. 

You should be able to take care of the technological security part of the technology of payment gateway. 

You should be financially endowed. 

Your business plan should increase your net worth by nearly twice after the first three years of business.

Let’s make you eligible for each of them.  


Giving business a legal identity


A public or a private limited company are the most stable business structures among all. They provide you the infrastructure to manage, operate and watch over your business without much difficulty. It’s also the easiest thing to get. Just consult a company registration expert. They will:


Prepare the required documents from the start

Draft your MOA and AOA, keeping in mind that managing a payment gateway is your primary business objective.

File your company registration application

Monitor the progress of the application, and

Deliver your Company Registration certificate in few short days. 

Getting the PCI DSS certification


The PCI DSS certification or PCI certification is provided by an independent certification body who only provides once it’s sure that you can provide security to the card of consumer’s data. In short, you only get certified if you’re capable of maintaining the confidential data of the consumer, confidential. Getting the certification is the trickiest part of becoming eligible. But you can do it. All you need are security experts and hire them to work on the data security part of your payment gateway. Their contribution will ensure that your gateway is PCI DSS compliant.    register business Singapore

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