According to a Moneycontrol report, payment aggregators have requested the RBI to push back the September 15 deadline for completing merchant re-KYC. These companies are finding it difficult to process a massive backlog of merchants, which could lead to interruptions in digital payment services. Estimates suggest that about 30-35% of small, informal offline QR-code merchants and roughly one million small online businesses are at risk of missing this cutoff.

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