Context:
RBL Bank has partnered with CAMSPay, the payments arm of CAMS, to introduce a new digital payment gateway platform catering to Indian enterprises.
Key Highlights:
- Partnership Role: RBL Bank will act as the merchant acquiring settlement service partner, while CAMSPay provides payment technology innovation.
- Platform Features:
- Real-time settlement capabilities
- Secure card processing
- Real-time analytics
- Automated reconciliation
- Open API–based settlement services
Digital Payment Gateway Platforms
- A Digital Payment Gateway is an online service that acts as a bridge between a merchant’s website/app and the bank/payment network to process electronic transactions securely.
- It authorizes and facilitates the transfer of funds from the customer’s account to the merchant’s account.
