www.corpzo.com
Easing Compliance Incubating Growth
COMPLIANCE | FINANCE | LEGAL | INVESTMENT | GROWTH | ENVIRONMENT
+91- 99991 39391
reach@corpzo.com
www.corpzo.com
www.corpzo.com
Payment aggregator license Financial BUsiness Incorporation
+91- 99991 39391
reach@corpzo.com
www.corpzo.com
ABOUT US
ACCELERATING BUSINESS EVOLUTION
✓ We are a Corporate Compliance organization having our presence across the globe aiming to ease compliance and assist in business evolution. ✓ We ensure that your business is up to pace with todays hyper-dynamic corporate legal structure(s) ✓ We take care of your compliance, so you can focus on your business.
✓ We are a corporate compliance organisation with expertise at providing pollution related and waste management advisory. ✓ Our experts have facilitated the incorporation of more than 1000 clients. ✓ We have facilitated more 5000+ clients in attainment of there business licences and registrations and more than 150 clients in obtaining SEBI/RBI licences for financial businesses like NBFC, Payment Gateway etc) throughout India.
WHAT IS a Payment aggregator? A payment aggregator (a.k.a. merchant aggregator) is a service provider that aggregates and offers multiple payment acceptance services to retailers. In that account, one big distinction between a gateway and an aggregator is when a gateway is for e-commerce websites/ applications, an aggregator digitises online and/or offline payment touchpoints. As per the RBI guidelines Payment Aggregators are entities that facilitate e-commerce sites and merchants to accept various payment instruments from the customers for completion of their payment obligations without the need for merchants to create a separate payment integration system of their own. PAs facilitate merchants to connect with acquirers. In the process, they receive payments from customers, pool and transfer them on to the merchants after a time period. For achieving this, a Payment Aggregator undergoes a comprehensive process of integration with all the payment service providers and consolidates this on a single platform. In simple terms, a payment aggregator empowers merchants by providing them the means to accept credit card payments and online money transfers without an individual merchant account with a bank or financial services provider.
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Payment gateway vs aggregator PARAMETER
PAYMENT GATEWAY
PAYMENT AGGREGATOR
ROLE
Intermediary
Interface
TOUCHPOINTS DIGITIZED
Online touch points including Website/ App
Online and/ or offline touch-points
PAYMENT OPTIONS
Restricted
Multiple
INTEGRATED SOLUTION
Yes
Yes
PAYMENT SUCCESS RATE (PSR)
As much as the payment gateway can manage
Significantly higher payment success rate
OWNERSHIP
Owned by public and private banks, merchants, vendors, and payment aggregators
Owned by Fintech players
PERMISSIONS
RBI authorisation under the Payment and Settlement Systems Act, 2007 (PSSA)
Payment aggregator requires the requisite certification as per the Payment Card Industry Data Security Standard (PCI-DSS)
Pre-requisites for Payment Aggregator License ✓
Applicant should be a registered company as per the Rules, Regulations and Provisions of the Companies act, 2013 or the earlier Companies Act 1956.
✓
Minimum two directors and two members
✓
Minimum capital requirement net-worth of 15 crores till 31.03.2021, which should be increased to 25 crores by 31.03.2023
✓
The credit profile of the Company, its promoters and directors should not be in a default state.
✓
Address Details of the Business
✓
Address System flow and code testing report by software certifying agency of the Business
Documents for payment aggregator license 1.
2.
Self-attested documents of Directors & Shareholders:
o
Copy of ITR of the past 3 years
o
Net worth statement & Credit report
o
Proof of Highest Educational Qualification
If the Company is already incorporated then we would need: o
Certificate of Incorporation of the Company applying for registration
o
A copy of the latest Memorandum and Articles of Association of the Company attested by the directors.
3.
Certificate of PCI-DSS Compliance
4.
Auditors Report Certifying the Net Worth of the Business/Company.
5.
Business plan for 3 to 5 years mentioning detailed projections and operational plan of the proposed business.
6.
Bank Statement of the Company for the last 12 months duly signed and stamped by the banker.
7.
A certificate of Chartered Accountant regarding details of group/ associate/ subsidiary/ holding companies along with details of investments in other
businesses as shown in the Proforma Balance Sheet 8.
Business/ Career profiles of all the directors
9.
Self-declaration by the directors for not being charged with any penal action.
10. Balance Sheet and P&L for the Last 2 years and provisional statements for the current year In case any further information or document is required, Our Compliance team will collect the same within 7 days begin the process.
Steps for payment aggregator license Collection & Verification of Soft Copy of all the relevant Documents & Information. Review of the duly signed and executed Documents by the Department Officials followed by preparation of business plan and requisite documents/attachments
FORM A Preparation and submission of FORM A (Payment Aggregator Registration Form) along with the prescribed attachments/documents and information as prescribed by the RBI.
Scrutiny The approval/rejection of the application is the sole discretion of the RBI. The RBI may conduct such inquiry as it deems fit for the purpose of verifying the authenticity of the details of the application.
Processing of Application
If the RBI is satisfied that the terms and conditions prescribed under the PSS Act are fully complied with by the applicant the Certificate/Authorisation will be granted to the applicant in FORM B.
According to the Section 4 of the PSS Act, The RBI is required to process the application within a maximum stipulated time period of 6 (SIX) months from the date of application.
SCOPE OF WORK ✓
END TO END Advisory for Payment Aggregator Authorisation
✓
Preparation of 3 year and/or 5 Year Business Plan by our experts
✓
Preparation of Draft Application and Attachments
✓
Pre-submission scrutiny of documents/attachments of all the promoters and advisory regarding the proposed board of directors.
✓
Submission of Application and prescribed fees
✓
Pro-active follow up with the department
✓
Assistance in attainment of prerequisites for the successful approval of payment aggregator licence
✓
Advisory pertaining to implementation of recommended security measures.
RELATED SERVICES LICENCES & REGISTRATIONS
01 ANNUAL FILING
02
ACCOUNTING & BOOKKEEPING
03 FINANCIAL ADVISORY
04 FEMA COMPLINACE
05 BUSINESS LICENCES
06
Our Services 01
Business Strategy o o o o
02
03
05
Business Plan Startup Pitch Deck Feasibility Analysis Techno Economic Evaluation
Compliance Management o o o o o
Annual Compliance Periodic Filing and Returns Change in Business FERA & FEMA Listing Compliance
Business Incorporation o o o o o o o
Indian Business Incorporation International Incorporation Foreign Subsidiary / India Entry Financial Business Incorporation NGO Incorporation Joint Ventures/Speacial Purpose Vehicles Trust/ Society/ Section 8/ NGO
Environment Approvals
06
Steps to a Successful Business 07
Trademark Patent Copyright Representation & Appeal
Licence & Registration
04
o o o o o o
Labour Licences RBI Licences Drug & Cosmetics Ayush & Herbal Urban Local Body Approval Regulatory Approvals
Pollution Noc/Consent EPR Authorisation (E-waste & Plastic) Bio Medical Waste Solid Waste Hazardous Waste CGWA NOC
Financial Advisory
Intellectual Property o o o o
o o o o o o
o o o o o o o
Accounting & Book Keeping Loans & Funding VCFO Services International Accounting Credit Rating Advisory Startup Funding Project Evaluation
Transaction Support
08
o o o o
Transaction Advisory Due Diligence Mergers & Acquisition IPO & FPO
OUR APPROACH
Our processes are aimed at solving most complex business problems, reducing risk and gain a competitive advantage by achieving good governance and financial control
ASSESSING REQUIREMENTS
DEDICATED PROFESSIONAL
REGULAR UPDATES
Understanding the client’s business needs and analyzing the requirements on call or in person as the need be
We align a professional to ensure to discuss in detail the compliance requirements of your business and thorough assistance throughout the process.
We thrive to keep you apprised about the status of your application until its completion. Every development on your application is brought to your attention.
Stage 4
Stage 2
Stage 5
Stage 3
Stage 1
SIGNING OF SLA
DOCUMENTS & INFORMATION
We share the estimated expenses and a service level agreement for the requested service
Following the SLA the necessary documents and information are collected from the client
Our Presence and Growth Significant Growth in Client Base Last 3 Years
2000 + Happy Clients Across Industry Verticals Around the Globe
2020 2010 Clients
2017 813 Clients
2013
40
145 850
171 Clients
110 100
Automobile
FMCG Information Technology
400 50
Textile
Metals & Minerals
Waste Management Healthcare & Pharmaceuticals
200
400
Food & Beverages
Real Estate Energy & Natural Resources
525
900
545 75
350
Financial Services
Packaging & Printing
754
Consumer Retail
OUR PRESENSE ACROSS INDUSTRY VERTICALS around the globe
Banking & Insurance
Why Us?
CO R P Z O PROMISE
✓ We promise perfection! ✓ We promise business evolution!
✓ We ensure accuracy! ✓ We believe in business ideas! ✓ We promise OUR BEST!
Who we are We believe in empowering businesses.
Technology Based Compliance Platform Corpzo Ventures Private Limited is an initiative aimed at simplifying the business journey for startups, Corpzo encompasses a team of more than 1000 legal, finance and banking professionals, set out to assist entrepreneurs around the globe in their business quests. We believe that every business needs nourishment in its budding stages. Ensuring smooth navigation through the bumpy ride of legal compliance, financial risks is what we are good at. We understand that the journey of an entrepreneur begins with his idea of a business. We, at, Corpzo, offer a complete range of professional services and tailor-made solutions for the evolution of your business ranging from incorporation compliance, legal, financial, taxation, technology, Intellectual Property Management, Registrations, Licensing and Marketing.
We assist you in choosing the best suited mode of business, get appropriate protection for your intellectual property, attain all the relevant mandatory and voluntary registrations, approvals, permits and certifications. We also assist in managing the accounts, taxation, finance and funding aspects of your business. In essence we wish for you to concentrate on your idea while we focus on the rest for you.
Our team of experts aims at easing Compliance and incubating your business growth with maximum efficiency & minimalist timeline.
ALL YOU NEED TO DO IS CALL US AND LET US WORRY ABOUT THE REST !! IT’S THAT EASY!!
www.corpzo.com
Corpzo Ventures Private Limited
+91- 99991 39391 reach@corpzo.com
www.corpzo.com
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