Question
The payment System Operator is an authorized party that
is registered under the Companies Act, 1956 or the Companies Act, 2013 that undertakes the operation of payment systems. Which of the following organisations is not part of payment settlement operators?Solution
The payment System Operator is an authorized party that is registered under the Companies Act, 1956 or the Companies Act, 2013 that undertakes the operation of payment systems. They provide services and operate on a certain model and mainly deal in payment and settlement-related activities. PSOs in India include Clearing Corporation of India, National Payments Corporation of India, Cards Payment Networks, Cross border Money Transfer, ATM networks, Prepaid Payment Instruments, White Label ATM Operators, Instant Money Transfer, and Trade Receivables Discounting System, Bharat Bill Payment System are payment settlement operators.
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