Don't know whether we should be happy or sad after hearing this
Tshirt
Student
4 months ago
I've mis-read:
strip clubs moving to invite only in India
WolfgangMozart
Stealth
4 months ago
Let's hope I get a call for a lap dance soon 😆
Gokart
Stealth
4 months ago
Do we know the specifics here ? What could be the reason ?
RBI is still figuring out how to regulate Payment Aggregators and neo-banks (most of the PAs and PGs are getting into neo-banking) so there's a lot of Compliance and Regulation hurdles. Also during lockdown and FinTech boom a lot of scams happened using PGs/PAs so merchant onboarding needs to be more strict and regulated. AI having the capacity to destroy automated KYC systems isn't doing wonders as well. That's all I know. A PM or analyst can share more light on this.
I think it doesn't help that Stripe is foreign owned. RBI is going to wary of anyone handling large sums of money flow with little jurisdictional reach and long term commitment.
Their SBI partnership is interesting in this respect.
