HDFC Bank’s Payment Aggregator Escrow account is a perfect solution which caters not only to the regulatory requirement but also meets your business requirement to handle transactions related to Payment Aggregation business.
Need of Payment Aggregator Escrow account
As per RBI regulation, online Payment Aggregators who are authorised by RBI need to open Payment Aggregator Escrow account with a bank for collection of payment received from various customers for settlement to your merchants.
Settlement to merchants within timelines defined by RBI
Features and benefits of HDFC Bank Payment Aggregator Account
Dedicated operations team which handles the Payment and settlement process
Seamless flow of settlement file to pay to your merchants through Online platform ENET.
Maker and checker facility at your end before sharing the settlement file with the Bank for payout to merchant.
Offers two factor security on E-Net - Login id and E-Net Soft Token
No charges of Escrow account opening and operation.
Integration capabilities for seamless transmission of information from your end to Bank and vice-versa
Click here to Apply Online for Payment Aggregator Escrow Account Or visit your nearest HDFC Bank branch
Payment Aggregator Escrow Account is required by entities having RBI authorization for their online Payment Aggregator business to collect customer payments and for further settlements to merchants for various product or services sold to these customers