According to this Act, a person who wants to work as a payment system operator or a payment service provider should establish a company in accordance with the prevailing law.
(2) Notwithstanding anything contained in sub-section (1), a bank and financial institution shall not re-establish a company for the purpose of sub-section (1).
(3) Notwithstanding anything contained elsewhere in this section, banks and financial institutions and payment service providers shall establish any other company to act as payment service providers in accordance with this Act or enter into an agreement with another company to provide such services or appoint an agent for such work. can