Payment operators need RBI nod for M&A – Times of India

MUMBAI: The RBI has said that non-bank payment system operators (PSOs) will need prior permission before a takeover of any company or transfer of payment activity.
“The operations of non-bank PSOs have been reviewed and they shall require prior in the following cases – takeover / acquisition of control, sale/transfer of payment activity to an entity not authorised for undertaking similar activity,” RBI said in a notification.
The RBI has registered nearly 70 PSOs including Clearing Corporation of India, NPCI, card & ATM networks, prepaid instrument issuers, instant money transfer entities and entities registered as operating units under Bharat Bill Pay. Registered companies include entities like PayU, PhonePe, Sodexo, Amazon Pe and Ingenico.

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