Account Migration - New PA/PG Guidelines
Update your setup to work with our new banking partners.
RBI
for PA/PG requires Razorpay to have an escrow account with RBL as banking partner. Existing Customer Identifiers with Yes Bank and ICICI Bank will be shut down, and all banking ops moved to RBL escrow account. Dashboard shows both old and newly created Customer Identifier until Jan 31, 2022.Post migration, new virtual response for Customer Identifier built on Yes Bank/ICICI Bank will contain two objects in receivers array, one for new RBL CI and one for existing Yes Bank/ICICI Bank CI. Confirm new RBL CI by checking IFSC Code RATN0VAAPIS.
The following sample response code can be used as a reference:
{"entity": "collection","count": 2,"items": [{"id": "va_IirUUD9dDm4G4i","name": "Test Account","entity": "virtual_account","status": "active","description": "Vishnu Jangid","amount_expected": null,"notes": {"project_name": "Vishnu Jangid"},"amount_paid": 0,"customer_id": null,"receivers": [{"id": "ba_IirUUYO8caNoK5","entity": "bank_account","ifsc": "YESB0CMSNOC","bank_name": "Yes Bank","name": "Test Account","notes": [],"account_number": "2223330053041804"},{"id": "ba_IirUUYO8sh1602","entity": "bank_account","ifsc": "RATN0VAAPIS","bank_name": "RBL Bank","name": "Test Account","notes": [],"account_number": "2223330053041804"}],"close_by": 1681615838,"closed_at": null,"created_at": 1641997300}]}
All the existing Smart Collect merchants who have created Customer Identifiers either in YesBank or ICICI will be impacted. If you have a Customer Identifier with RBL Bank, you will not be impacted.
All Customer Identifiers created with Yes Bank and ICICI Bank only will be migrated to RBL Bank.
The Customer Identifiers created with Yes Bank and ICICI bank will be shut down on 31st January 2022. Post that, transfer of any funds to these Customer Identifiers will not be processed.
Unfortunately, due to the revised guidelines, we will not be able to support this.
You will be able to use both your new (RBL Bank) and existing (ICICI Bank and YES Bank) Customer Identifiers until 31st January 2022. Post which, you will not be able to receive any payments on your existing (ICICI and YES Bank) Customer Identifiers.
The account number and/or IFSC codes for all the impacted Customer Identifiers will change. You will need to communicate about these changes to your respective customers so that they can add these new Customer Identifiers as beneficiaries for future NEFT/IMPS/RTGS payments.
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