RBI asks Razorpay, Cashfree to pause onboarding of new customers
Payment companies Razorpay and Cashfree Payments have received notices from the Reserve Bank of India (RBI) to withhold onboarding any new online merchants to their platforms, pending their audit for the payment aggregator/payment gateway licenses (PA/PG).
These restrictions are not likely to have any material effect on the companies, and are part of the audit process.