India's RBI Formalises Payment Aggregator Directions 2025 — New Compliance Baseline for All PA/PG Builders
On 15 September 2025, the RBI issued the Reserve Bank of India (Regulation of Payment Aggregators) Directions 2025, consolidating and superseding all earlier PA/PG regulatory frameworks into a single operative document. Any team building a checkout, embedded payments, or merchant-facing collection flow now has one definitive compliance reference — non-compliance is no longer a grey-zone risk but a clear regulatory breach.