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Simpl
is grappling with an existential crisis. The Reserve Bank of India (RBI) has directed the buy-now-pay-later (BNPL) platform to cease all payment-related operations. So, why did the RBI crack down on Simpl?
The Regulatory Strike: As per the company, the RBI determined that Simpl’s business model constituted a “payment, clearing, and settlement” system. As the startup does not hold a licence under the Payment and Settlement Systems Act, the regulator has…
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
Simpl is grappling with an existential crisis. The Reserve Bank of India (RBI) has directed the buy-now-pay-later (BNPL) platform to cease all payment-related operations. So, why did the RBI crack down on Simpl?
The Regulatory Strike: As per the company, the RBI determined that Simpl’s business model constituted a “payment, clearing, and settlement” system. As the startup does not hold a licence under the Payment and Settlement Systems Act, the regulator has…
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
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