NPCI issues guidelines for merchant acquisition on BHIM Aadhar Pay

The National Payments Corporation of India (NPCI), in a circular, has issued guidelines that put the onus of verifying merchant details on acquiring banks for BHIM Aadhaar Pay.

“The obligation to acquire, manage, and monitor merchants for BHIM Aadhaar Pay rests with acquiring member banks. Acquiring member banks shall continue to be responsible for merchants onboarded by them directly or through aggregators/partners,” said NPCI in the circular.