State PCS

Edit Template
Edit Template

Payment System Operators (PSO)

Draft Master Directions on Cyber Resilience and Digital Payment Security Controls has been released by RBI for PSO.

Why in news?

The Reserve Bank of India (RBI) has released the draft Master Directions on Cyber Resilience and Digital Payment Security Controls for Payment System Operators (PSOs).

Read also:- ‘Lightweight’ payments system

What are PSOS?

Payment system operators enable the transfer of funds from one party (the payer) to another (the payee) and settle financial transactions of monetary value. They consist of various mechanisms that facilitate the movement of funds.

PSOS are legal entities responsible for operating a payment system. A payment system is made up of participants (institutions) and the users (customers/clients).

The Board for Regulation and Supervision of Payment and Settlement Systems (BPSS), a sub-committee of RBI is the highest decision-making body related to PSOs.

PSOS in India

Clearing Corporation of India, Cards Payment Networks, National Payments Corporation of India, Prepaid Payment Instruments, Cross border Money Transfer, ATM networks, White Label ATM Operators, Instant Money Transfer, and Trade Receivables Discounting System, Bharat Bill Payment System.


There are several significant payment system operators around the world. Here are some notable examples:

Visa Inc.: Visa is one of the world’s largest payment system operators, providing electronic payment solutions to businesses and consumers. It operates a global network that enables secure and convenient transactions using credit cards, debit cards, and prepaid cards.

Mastercard Incorporated: Mastercard is another major payment system operator, offering similar services as Visa. It operates a global payment network that connects financial institutions, merchants, and cardholders worldwide.

PayPal Holdings, Inc.: PayPal is a prominent online payment system operator that allows individuals and businesses to make electronic payments and money transfers over the internet. It offers a range of services, including online payments, peer-to-peer transfers, and payment processing for e-commerce businesses.

Read also:- Centralized Laboratory Network (CLN)

Alipay: Alipay is a leading payment system operator in China, operated by Ant Group, an affiliate of Alibaba Group. It provides online payment services, including digital wallets, quick response (QR) code payments, and peer-to-peer transfers. Alipay has gained significant popularity in China and is expanding its services globally.

WeChat Pay: WeChat Pay is another major payment system operator in China, operated by Tencent Holdings. It is integrated into the popular messaging and social media app WeChat, allowing users to make payments within the app for various services and products.

American Express: American Express, also known as Amex, is a global payment system operator that offers credit cards, charge cards, and other financial services to consumers and businesses. It operates its own payment network and provides cardholders with rewards and benefits.

Union Pay: Union Pay is a major payment system operator in China, specializing in card-based transactions. It operates the largest card payment network in the world and provides services such as debit and credit cards, mobile payments, and online payments.

JCB: JCB (Japan Credit Bureau) is a payment system operator based in Japan. It offers credit card services, mobile payments, and other financial solutions. JCB cards are widely accepted in Japan and increasingly accepted internationally.

These are just a few examples of significant payment system operators. There are many other regional and local operators that play important roles in their respective markets.

Read also:- Admission Procedure & Fee

Payment System Operators (PSO),Payment System Operators (PSO)

Demo Class/Enquiries

blog form

More Links
What's New
IAS NEXT is a topmost Coaching Institute offering guidance for Civil & Judicial services like UPSC, State PCS, PCS-J exams since more than 10 years.
Contact Us
Social Icon

Copyright ©  C S NEXT EDUCATION. All Rights Reserved