Can we bypass third-party payment gateways in India? I plan to directly manage incoming and outgoing payments, retaining a commission, especially after experiencing onboarding issues with traditional providers.
Hey Daisy_Whimsical, that’s a really thought-provoking idea! I’ve been mulling over similar questions recently. Diving into direct payment processing in India definitely sounds promising, especially if you’re looking to have tighter control over operations and fees. However, it’s important to consider the regulatory landscape here. The Reserve Bank of India has specific guidelines that might influence how you set up and operate your system. Also, working out the nitty-gritty of customer KYC, fraud prevention, and managing settlements without a familiar intermediary could be challenging. Has anyone else here experimented with bypassing traditional gateways or found innovative ways to meet the compliance requirements in-house? I’m really keen to hear more about what others think on the technical barriers and the potential benefits you could truly unlock with this approach.
Direct payment processing can offer greater control but also introduces significant challenges. In my experience, moving away from established third-party gateways not only amplifies compliance burdens but may also complicate the technical integration with banks. Establishing an in-house solution means building robust security measures, managing KYC intricacies, and ensuring adherence to RBI guidelines, which are all resource-intensive. While bypassing traditional gateways can work if you have substantial expertise and capital investment, the potential risks and operational complexities have, in my case, made it less attractive compared to leveraging existing, compliant solutions.
hey daisy, going direct sounds neat but consider the RBI regs and bank integrations, they can be tricky. you might face issues with compliance and tech hickups. be ready for a steep learning curve if you ditch the established gateway systems. good luck!
Hey Daisy_Whimsical, I can totally relate to why you’re leaning into the idea of handling payments directly. It’s kind of a double-edged sword, isn’t it? On one hand, you retain more control and possibly reduce some of the markup costs that come with third-party solutions, but on the other, there’s that big hurdle of keeping up with RBI regulations and ensuring all your security and compliance boxes are ticked. I recently came across some fintech discussions where a few startups tried a sort of ‘in-between’ approach—basically piloting their own processing system with a close regulatory connection—and it seemed to open up some interesting possibilities. I’m curious, have you thought about running a small-scale test or maybe even partnering with a fellow startup to share that compliance burden in the beginning? And for those of us who are just curious observers, what do you all think might be the key milestones to hit before going full direct processing? Looking forward to hearing more insights on this from everyone!