Fintech

RBI rules stump payments cos & ecom exporters; Pristyn’s Lybrate deal

Pratik Bhakta

Supriya Roy

June 10, 2022 | 5 Min Read

RBI rules stump payments cos & ecom exporters; Pristyn’s Lybrate deal

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June 10, 2022 | 5 Min Read

The Crux newsletter this week. In its latest guidelines, the central bank has proposed stricter KYC of merchants and customers in ecommerce-driven trade. Plus, what does healthtech unicorn Pristyn gain from its recently announced acquisition?

RBI’s new draft guidelines for small-value transactions in ecommerce-driven trade (import and export) are causing consternation among payments companies and micro-entrepreneurs.

Trust, but verify: The proposed rules require the companies to conduct full identity verification, or KYC, of online merchants and their customers, said two people briefed on the matter. No one is sure how this will work in the case of overseas customers buying Indian goods and services.

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