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PPI INTEROPERABILITY
RBI's new draft guidelines have digital wallets feeling the pinchFounders and senior industry executives told ET that the new draft guidelines released by the RBI on April 22, if implemented in the curren...- RBI overhauls prepaid cards & wallets rules: Rs 2 lakh monthly debit limit, usage, restrictions, new safeguard and moreThe RBI has revised Prepaid Payment Instrument (PPI) rules, introducing new monthly debit limits for full-KYC PPIs at Rs 2,00,000, with a R...
- RBI sharpens compliance norms, expands use cases of UPI-linked wallets for foreign visitors under draft PPI normsThe Reserve Bank of India has unveiled draft guidelines for prepaid payment instruments. These new rules aim to strengthen compliance and c...
- RBI proposes measures to strengthen Prepaid Payment Instruments frameworkThe Reserve Bank of India is introducing new rules for Prepaid Payment Instruments. These changes aim to boost the long-term growth of thes...
- UPI rule change: Use any UPI app to pay from your wallet as RBI allows interoperability for full-KYC PPIRBI new rules for UPI payment : Now wallet holders will no longer have to depend upon the PPI wallet issuer in order to make UPI payments, ...
- New UPI rules for access for prepaid instruments: Now you can transfer funds from prepaid wallets using third party appsReserve Bank of India UPI: Now individuals don't need to depend upon third party prepaid payment instrument (PPI) wallets in order to make ...
- NPCI sets 1.1% interchange fee on UPI payments via prepaid instruments, walletsThe National Payments Corporation of India has set the interchange fee at 1.1% for merchant transactions initiated using a Prepaid Payment ...
- No charge on normal UPI transactions for customers, says NPCIThe NPCI reportedly said that using prepaid payment instruments (PPIs) - gift cards, wallets, among others - for transactions through UPI w...
- Account-to-account transfers free on UPI: NPCINPCI recently issued guidelines that allowed prepaid payment Instruments (PPI wallets) to be part of the interoperable UPI ecosystem.
- Paytm extends full interoperability, allows wallet users to pay via UPI QR codesThis comes after the Reserve Bank of India (RBI) mandated all Prepaid Payment Instruments (PPI) like wallets to be interoperable with UPI a...
- JusPay launches software to make digital wallets mutually compatibleThe Reserve Bank of India (RBI) said in May 2021 that all prepaid cards and wallets that are full-KYC compliant must be fully interoperable...
- RBI makes mobile wallet interoperability mandatory from FY23Additionally, mobile wallets such as Paytm, PhonePe and Mobikwik can now be used for cash withdrawals up to Rs 2,000. The wallet limit has ...
- Fintech firms will soon process NEFT, RTGS paymentsRBI also proposes making all mobile wallets compatible and letting users withdraw cash at ATMs using them
- Decoding RBI's new digital payments moves and their impact on fintech ecosystemThe central bank governor Shaktikanta Das in his Monetary Policy Committee (MPC) address said that fintech companies such as prepaid instru...
- Soon withdraw cash from digital wallets, prepaid cards of non-bank entitiesPPIs stand for prepaid payment instruments. Forex cards, digital wallets etc are some examples of PPIs. The statement stated that the neces...
- RBI releases norms for facilitating money transfer among e-walletsThe guidelines elaborate on requirements for achieving inter-operability for mobile wallets and cards, and norms for customer protection an...
- RBI says interoperability available only for full KYC walletsAll forms of wallet interoperability will happen through Unified Payments Interface and cards through the interoperable card networks.
- From interoperability to KYC compliance, making sense of the RBI Master Direction for prepaid instrumentsRBI's Master Direction is interoperability of wallets eliminates the need for the sender and recipient of a mobile payment to be using the ...
- RBI to allow inter-operability in prepaid payment instrumentsThe RBI said revised framework will pay the way for inter-operability into usage of PPIs, as per the vision for Payment and Settlement Syst...
- RBI's mobile wallet interoperability faces a few hurdlesWallets had been given licence according to very relaxed net worth criteria, which allowed a huge flux of players to get into the market.
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