New Delhi: Amazon India is seeking more clarity on the domestic payments issue from the RBI as there is less than a month left to comply it. India’s head of Amazon Pay Mahendra Nerurkar said the clarity from the RBI would help the company in complying with the regulations. The company has set up a team within the payments vertical to work on the RBI guidelines.
Storing payments data locally had ‘multiple’ solutions that can be explored with more dialogues with the regulator. Since the first circular came out in April, the RBI has not put out any updates on the matter.
It could be challenging for several players to comply with the norms by October 15.