The basic requirements of Payment Gateway License in India:
- The said entity or company must be incorporated under the provisions of the Companies Act 2013 or the Companies Act 1956;
- A Minimum of 2 Members;
- A Minimum of 2 Directors;
- Address Proof of the Business;
- 5 years Business Plan;
- PAN of the Company;
Why do I need a merchant account? If you want your business to accept credit and debit cards, you will need a merchant account. A merchant account is a necessary intermediary drawing funds between your customers' bank accounts and depositing those funds into your business's bank account.