Executive Summary: Payment industry in India has made drastic revolutionary evolvement which require to maintain, records and report the periodic return/reporting to regulator Reserve Bank of India (RBI). In order to avoid, get connected and fulfil the required compliances on time.
Introduction
Realization of payment for service rendered or goods delivered are been very often and frequent now a days due to easy and convenient way of online payment solutions setup. Irrespective of instrument and device been used on online or offline modes, now banking and non-banking, all entities with valid license are providing the payment integration facilities to vendor for easy realization of their dues.