These directions consolidate previous guidelines for Payment Aggregators (PAs), including those handling proximity/face-to-face payments and cross-border transactions. The key aspects include a rationalized definition of various PA categories, updated authorization procedures for both bank and non-bank entities, and stringent due diligence obligations for PAs to verify merchant identities and backgrounds. It also specify capital requirements, with non-bank PAs needing to achieve a minimum net-worth of ₹25 crore by their third financial year. It also mandate robust governance, dispute management, and cybersecurity frameworks.