Report payment outages and cyber incidents to RBI and partners

Assemble failed, pending and duplicate transactions, settlement impact and the outage timeline from detection to restoration. Operational Risk can decide with Compliance what goes to RBI, CERT-In and partner banks on time while affected payers are reversed and compensated.

Starts when

An outage of a critical payment system, API or partner rail
A cyber incident affecting payment systems or card or payment data
A settlement delay to merchants or a stuck-transaction spike
An incident alert from a partner bank, NPCI or a card network

People in the process

OOperational RiskProcess Owner
SSecurityParticipating Team
PPayment OperationsParticipating Team
CComplianceParticipating Team
CCustomer SupportParticipating Team
DData ProtectionParticipating Team

The process is a starting point. The standards are yours.

Configure for the entity’s actual role. Payment-aggregator, gateway and lending-partner obligations are distinct; the workflow must use the relevant permissions, partner contracts and reviewed requirements.

Keep the work connected.

Merchant Risk

Activate merchants only on a complete KYC file

For payment aggregators, bring the merchant's CKYCR record or due diligence, beneficial owners, settlement account, website and sanctions screening into one onboarding file. Merchant Risk can approve, condition or decline activation and keep unverified merchants off the escrow settlement list.

Merchant Risk

Verify merchant bank account changes before switching settlement

Tie each merchant change in ownership, business category, website or settlement account to the signed agreement, risk profile and fresh KYC and sanctions checks. Merchant Risk can re-rate the merchant and notify the acquiring bank before settlement moves, blocking account-change fraud.

Merchant Risk

Contain suspicious merchants and report them to FIU-IND

Compare a merchant's volumes, ticket sizes, refund and chargeback rates, payer patterns and linked merchants with the business it was approved for. Merchant Risk can decide holds, limits, suspension or termination on preserved evidence while Compliance files suspicious transaction reports on time.

FMC

Explore all Fintech & payments processes.

Order for the work. Room for the people.