Mobile Wallets

The Reserve Bank of India (RBI) on October 11, 2017 in a notification, released guidelines for prepaid instruments (PPIs) that allow all KYC-compliant wallets such as Paytm, Mobikwik, Oxigen, FreeCharge and Citrus, among others, to be able to transact with each other from April 2018. The move will ensure fair competition between different PPI providers and would be beneficial for both – merchants as well as the end-users.