Online Gaming Act: Payment apps, banks seek guidelines
With India's new online gaming law banning real-money games and setting rules for e-sports and social gaming, payment apps like PhonePe, Razorpay, Stripe, and PayU are asking the government for clear guidelines and some time to adjust.
They say this will help them handle refunds smoothly as things change.
Banks want to know how to spot legit payments
Big banks—including SBI, ICICI, HDFC, and Axis—also want to know how to spot legit payments versus banned ones so regular users aren't affected.
Officials reassured everyone that the crackdown is on illegal money flows—not everyday players or customers.
The goal is to keep payments running smoothly while protecting users and making sure the online gaming scene stays fair.
Clear rules mean fewer failed payments or refund hassles for everyone involved.