Registration under payment and settlement systems act,2007

Arun Davis (Querist) 12 February 2014 This query is : Resolved
1.Who are required to take registration under PSS Act,2007?
2. What are the procedure to take registration under this Act?
3. Whether a Payment gateway intermediary company is required to registration under this Act?

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Devajyoti Barman (Expert) 12 February 2014
Academic query.
Give facts and details of your query.

Arun Davis (Querist) 12 February 2014
One of my friend, in bangalore is going to start a payment gateway intermediary company like flipkart, ccavenue etc. He doubts whether he needs to take any prior approval or registration from RBI under PSS Act or under any other statute..

Devajyoti Barman (Expert) 12 February 2014
Yes, he needs license.
Since it is commercial query, you have to engage an advocate to know the way out.
Business queries are not replied here.