Online Payment Gateways - Enhancement of the value of transaction
AD Category I banks were permitted to offer the facility to repatriate export related remittances by entering into standing arrangements with Online Payment Gateway Service Providers (OPGSPs) for export of goods and services for value not exceeding USD 3000 per transaction, subject to the conditions stipulated therein.
The said instructions have been reviewed in the context of requests received for suitable enhancement of the value of the transaction. Accordingly, it has now been decided to increase the value per transaction from USD 3000 to USD 10,000 for export related remittances received through OPGSPS.
The revised limit will come into force with immediate effect.
RBI Circular 109 Dated: June 11, 2013