I have investigated several payment options for my AI service in India, yet every gateway demands formal business registration or refuses individual enrollment, leaving cryptocurrency as the sole alternative.
In my case, the main reason appears to be strict compliance requirements tied to international financial regulations. The companies operating these gateways are obligated to minimize risks associated with money laundering and fraud, which often translates into needing proof of formal business registration. From my personal experience, even when attempting to sign up as an individual for various services, the responses consistently highlighted the need for verifiable business credentials. Consequently, this has driven users to explore alternative methods or local fintech solutions, although those too come with their own limitations.
Hey everyone, I’m also really intrigued by this debate! I’ve been thinking that the issue might not only be about ticking regulatory boxes globally but also about local risk management. It seems that a lot of these gateways are tuning their systems strictly for business users because it simplifies the verification, auditing, and compliance protocols they have to follow – something that can get really messy with individual accounts. Do you think it’s a case of organizations hedging their bets by reducing exposure to potential financial misuse? I’ve seen whispers online about how localized guidelines by bodies like the RBI might be adding to the challenge as well. It makes me wonder if a blend of innovative localized solutions could address both individual needs and international security standards. How do you all see it? Would a partnership between fintech startups and regulators help bridge this gap, or is it more about overhauling legacy systems in these global companies? Keen to hear your thoughts on where the real bottleneck lies!