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Articles for Ppis, search results for bank

PPI interoperability: How RBI’s new UPI rule set to ease digital payments? An explainer
1 week, 5 days ago

PPI interoperability: How RBI’s new UPI rule set to ease digital payments? An explainer

Live Mint  

The Reserve Bank of India recently allowed the users of prepaid payment instruments to access UPI services via third party applications. This will enable the PPI holders to make UPI payments like bank account holders,” reads the RBI statement dated April 5, 2024. So, the latest move on Dec 27 was a follow-up action where the RBI instructed all prepaid …

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RBI permits UPI transactions via prepaid payment instruments using third-party apps
1 week, 6 days ago

RBI permits UPI transactions via prepaid payment instruments using third-party apps

Deccan Chronicle  

Mumbai: The Reserve Bank on Friday allowed prepaid payment instrument holders to make and receive UPI payments through third-party mobile applications. It has been decided to enable Unified Payments Interface payments from/to full-KYC prepaid payment instruments through third-party UPI applications, the central bank said in a circular. "A PPI issuer shall enable holders of only its full-KYC PPIs to make …

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All your questions about transactions made with PPIs via UPI, explained
1 year, 9 months ago

All your questions about transactions made with PPIs via UPI, explained

The Hindu  

April 05, 2023 10:59 pm | Updated April 06, 2023 02:00 pm IST The story so far: Earlier last week, the National Payments Corporation of India, which governs UPI, in a circular issued directly to banks, intimated that they can now levy charges on merchant transactions made through Prepaid Instrument wallets using UPI. Subsequently, PPI issuers tied up with NPCI …

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UPI merchant transactions above Rs 2,000 via PPIs to attract 1.1% interchange fee: NPCI issues new rules
1 year, 9 months ago

UPI merchant transactions above Rs 2,000 via PPIs to attract 1.1% interchange fee: NPCI issues new rules

India TV News  

UPI transaction charges: The National Payments Corporation of India has suggested the implementation of an interchange fee for Prepaid Payment Instruments on Unified Payments Interface transactions exceeding Rs 2,000. The proposal recommends an interchange fee of up to 1.1 percent with the objective of boosting revenue for banks and payment service providers who have faced significant costs in facilitating UPI …

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Fintech's Halt 'Buy Now Pay Later' As RBI Tightens The Noose On PPIs
2 years, 6 months ago

Fintech's Halt 'Buy Now Pay Later' As RBI Tightens The Noose On PPIs

Live Law  

The FinTech industry has seen an unprecedented rise in the past few years, with many neo-banks, non-bank prepaid instrument issuers emerging in the market with their outrageous claims and services. However, it seems that the RBI has grown weary of the BNPL service, for on June 20 2022, The Reserve Bank of India issued a notification prohibiting non-bank institutions or …

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Prepaid Payment Instruments – The Future Of Online Payments
3 years, 2 months ago

Prepaid Payment Instruments – The Future Of Online Payments

Live Law  

Numerous technological innovations, revolutionary progress in Fintech and the ever-growing use of Prepaid Payment Instruments has led to regular amendments in the Master Directions on issuance and Operation of Prepaid Payment Instruments. To sum up, the major change from the Previous Master Directions is that non-bank PPIs were not allowed to issue Full KYC PPIs, however under the New Master …

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RBI to mandate interoperability among prepaid payments instruments: Shaktikanta Das
3 years, 9 months ago

RBI to mandate interoperability among prepaid payments instruments: Shaktikanta Das

India TV News  

Making its displeasure on prepaid payments instruments issuers not adopting interoperability, the Reserve Bank on Wednesday said it will make it mandatory for such companies to make provisions for letting their customers transact with others after doing a full-KYC. Governor Shaktikanta Das on Wednesday said prepaid payments instruments were given the option to become interoperable, wherein customers of one company …

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Cash withdrawal from wallets; RTGS for non-banks: Key RBI Monetary Policy announcements
3 years, 9 months ago

Cash withdrawal from wallets; RTGS for non-banks: Key RBI Monetary Policy announcements

Live Mint  

To encourage non-bank financial institutions such as mobile wallets and payments banks, Reserve Bank of India announced a host of changes in its monetary policy on Wednesday. From extending the National Electronic Funds Transfer and Real-Time Gross Settlement facilities to non-bank payment system operators to hiking the maximum end of day balance for payment banks, here are the key announcements …

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RBI Introduces New Prepaid Payment Instrument
5 years ago

RBI Introduces New Prepaid Payment Instrument

ABP News  

Mumbai: The Reserve Bank has introduced a new type of prepaid payment instrument which could be used only for purchase of goods and services up to a limit of Rs 10,000 per month. "To give impetus to small value digital payments and for enhanced user experience, it has been decided to introduce a new type of semi-closed PPI.," RBI said …

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RBI introduces new prepaid payment card for digital transaction up to Rs 10,000
5 years ago

RBI introduces new prepaid payment card for digital transaction up to Rs 10,000

India TV News  

The Reserve Bank has introduced a new type of prepaid payment instrument which could be used only for the purchase of goods and services up to a limit of Rs 10,000 per month. "To give impetus to small value digital payments and for enhanced user experience, it has been decided to introduce a new type of semi-closed PPI.," RBI said …

Rbi Circular Ppis Shall Such Ppis
Want to shop for Rs 10,000? RBI proposes new prepaid card for digital transactions
5 years, 1 month ago

Want to shop for Rs 10,000? RBI proposes new prepaid card for digital transactions

India TV News  

The Reserve Bank on Thursday proposed to introduce a prepaid payment instrument that could be used only for transactions of goods and services worth up to Rs 10,000. PPIs have been playing an important role in promoting digital payments and bringing in the new PPI will further facilitate its usage, as per an RBI statement issued post announcement of the …

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