“Aggregators/payment intermediaries like Amazon and Flipkart are not authorised under Section 8 of the PSS (Payments and Settlements Systems) Act, 2007,”
Cash-on-delivery (CoD) method of payment option provided by online retailers such as Flipkart and Amazon may be a regulatory grey area as per the Reserve Bank of India’s (RBI’s) response to a Right to Information (RTI) query, according to a report by ET
The RBI, in a response to an RTI query, said a collection of payment from platforms such as Amazon and Flipkart are not authorized.
since there is neither a mention of cash payments in the Act and therefore there is no question of it being “authorized”.
The query was raised by India FDI Watch, an activist group, that claims to ‘stop the takeover of India’s retail sector by corporations’. Naturally this group feels strongly about any practice that the ecommerce giants adopt to popularize their business.
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