Payment gateway license in India is the most sought-after business license at the movement. Providing the authorization to start a payment gateway in India, this can help you materialize India’s digitization dreams. However, you can’t do so without the right experts.
When it comes to payment gateway license, India is not lagging behind anymore. Every time you visit YouTube or try to pay online, you’re bombarded with many options to choose from. From PayUmoney to PayTM to Billdesk and who knows how many more, the number of payment gateways is increasing. In addition to making India’s digitization dreams more real, it’s a profitable business venture that start-ups and veterans alike are interested in being a part of.
However, the process of obtaining a payment gateway license is not an easy one. The pre-requirements alone are enough to make anyone apprehensive about taking even one step towards it. That being said, the Reserve Bank of India – the primary license issuer – doesn’t expect you to take on the task on your own. There are consultants that can help you get the Payment gateway certificate. Through this blog, you’ll know how to find the best ones among them.
Finding the right consultants for the payment gateway license
Following are some tips of judging the right consultant who can help you obtain the payment gateway certification:
- Try to find their knowledge-level of basic gateway: As a payment gateway designer, you understand the technology. While you can’t expect the license service provider to have the same knowledge as you, you should expect for him or her to have some idea of that technology. Find out how much they know about the basics of a payment gateway. Ask them about the process, and the requirements of a payment gateway.
- Ask if they can provide you with PCI DSS certification: Without the approval of Payment Card Industry Data Security Standard, the RBI won’t give its approval for your payment gateway. That’s why, it’s important for your consultants to have access to an independent body that can provide you PCI DSS certification. In case these consultants can provide you with PCI DSS certification, you should look the other way.
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- Ask them whether they provide end to end assistance: The process to obtain RBI payment gateway license involves repeatedly fulfilling the requirements asked by the RBI. It’s not a linear process that only involves application filing and document submission. That’s why, your consultants should be able to stand by you at all times. If the consultants can provide you end to end assistance, and that too as a reasonable cost, you’re in good hands.
- Ask them about the license cost: The eligibility criteria of being considered worthy to apply for payment gateway license is high. Thus, you can realize that the payment gateway license cost might be as high to say the least. However, despite the government fees, the right consultant will not ask for too much professional fee.
Finding the right consultant to help you obtain Payment gateway license is a task in itself. If you want more information in this regard, reach out to our RBI consultants. We will be able to guide you towards the license in no time.
Payment gateway license in India is a license that you can only obtain if you follow the steps correctly. A good consultant can assist you. In this blog, we are giving you tips on how to find one.