Authorized payment gateway in India for Shopify

[Rehan ahmad]

I'm currently working on an e-commerce website which is being hosted by Shopify. I want to add a payment method for customers to buy my products from there and I can see all the major payment gateways are not allowing onboarding of new merchants because of rbi.
Can anyone please help me what are my options right now, because it seems to be an issue that will not solve early. Razorpay, payu, cashfree etc are still working for old merchants but they aren't allowing any new customers and after contacting them it seems like they are going to close their businesses in India pretty soon.

 

[JB701]

what did rbi do? is it because of forex controls?

 

[Sammy]

I know Cashfree hasn't been onboarding for quite a while. Are you sure about PayU and RazorPay though? I get calls almost daily from Razorpay asking me to sign up for their products.

 

[greghouse]

waiiit Razorpay, Payu are gonna shut shop? How?

 

[Nishant]

I can see all the major payment gateways are not allowing onboarding of new merchants because of rbi.

I'm not sure whether this is true because I know of a company who added Razorpay as payment gateway just few days ago.

 

[Smh]

Those payment gateway have a big customer base, even Shopify I think. Payment gateway comission for Shopify is extra money. Why anyone would close their business?

And are you trying to accept forex or local currency?

 

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[Rehan ahmad]

RBI has issued new guidelines for PA license and all FinTech Corps are required to re-apply for this license until then they can't onboard new customers. From the news I have seen recently: Payu, Paytm etc license has been rejected while Razorpay, Cashfree, Easebuzz license has been approved but they can't onboard new customers until advised otherwise.
Source: PA License Approval List
From the website of Razorpay, Payu, Cashfree, Paytm PG, Easebuzz they have clearly mentioned that they are not onboarding new customers right now until advised by RBI.

I am trying to accept Local Currency only, I am working on this for my cousin who wanna sell handmade jewellery online.
Only option I can see right now is CCAvenue, as per online news they are accepting new applications but due to high volume of applications they might not consider small business owners right now.

I have already applied to all 7-8 PAs who are integrated with Shopify and I got calls from each saying we have your application under consideration but we don't have any knowledge when new onboarding will start.

Screenshot from Razorpay below.

@Nishant Maybe they started registration on Razorpay before Dec 22. Old customer's account is still active.

This has been affecting new startups also.
Economic Times: Rivals snag users from top payment gateways hit by RBI freeze
Reddit: payment gateways not on boarding new customers in India?

 

[Rajash]

Unbelivable! R there any domestic payment gateways for new customers now?

 

[Smh]

Not sure but few gateway who got new license are accepting new customers - like PhonePe. But you need proper registered pvt company with gst and everything. I think proprietorship based applications are not getting accepted.

 

[Rajash]

tried, but it seems a bit complicated to register. still searching for other ways