Prepaid Payment Instruments
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RBI Issues Alert Against Prepaid Payment Instruments By Illegal Entities
The Reserve Bank of India (RBI) on Thursday cautioned the public against Prepaid Payment Instruments issued by unauthorised entities.
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Paytm Payments Bank Can't Offer Services, Including Wallet, After Feb 29: RBI
The Reserve Bank of India on Wednesday barred Paytm Payments Bank Ltd from accepting deposits or allowing credit transactions, or top-ups, in customer accounts or prepaid instruments - like FASTags - linked to those accounts, after Feb 29.
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No Charge on Normal UPI Payments, 1.1 Percent Fee to Be Levied on PPI Merchant Transactions: NPCI
National Payments Corporation of India (NPCI) on Wednesday said there is no charge for the bank account to bank account-based UPI payments or normal UPI payments. However, interchange charges are only applicable for the prepaid payment instruments (PPI) merchant transactions and there is no charge to customers, NPCI clarified in a statement.
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Amazon Pay India Faces Penalty of Over Rs. 3.06 Crore by RBI for Non-Compliance
The Reserve Bank of India on Friday said it has imposed a penalty of over Rs. 3.06 crore on Amazon Pay (India) Private Limited for non-compliance with certain provisions related to Prepaid Payment Instruments (PPIs) and Know Your Customer (KYC) direction. "It was observed that the entity was non-compliant with the directions issued by RBI on KYC re...
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Amazon Pay Fined Rs 3.06 Crore For Non-Compliance With Norms
The Reserve Bank of India todaysaid it has imposed a penalty of over Rs 3.06 crore on Amazon Pay (India) Private Limited for non-compliance with certain provisions related to Prepaid Payment Instruments (PPIs) and Know Your Customer (KYC) direction.
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Travellers From G20 Countries Can Use UPI Facility At 3 Airports: RBI
The RBI on Tuesday said travellers from G-20 countries arriving at Bengaluru, Mumbai and New Delhi international airports can get Prepaid Payment Instruments wallets linked to UPI for making payments to over five crore merchant outlets across India.
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RBI Bars Fintech Companies From Loading Cards Using Credit Lines: 10 Points to Understand the Move
The Reserve Bank of India (RBI) has issued a notice to all non-bank entities offering payment instruments to restrict them from loading instruments including prepaid cards using credit lines. Fintech companies are currently assessing the situation.
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Fintech Players Stop Customers' Transactions After RBI Order
Prepaid payment instruments (PPIs) are learnt to have stopped customers transactions on their prepaid cards in reaction to RBI's notification
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RBI Cautions Public Against Prepaid Payment Instruments Issued by Unauthorised Entities
The RBI said Gurugram-registered sRide Tech Private Limited is operating a pre-paid instrument (wallet) through its car-pooling app sRide without obtaining the required permissions, as it cautioned the public against using applications issued by unauthorised entities.
-
RBI Introduces New Prepaid Payment Instrument
PPIs are financial instruments that facilitate the purchase of goods and services against the value stored on such instruments.
-
Government Releases Draft Rules For M-Wallets, Smart Cards
The government has released draft guidelines for transactions made through prepaid payment instruments (PPIs) like mobile wallets, smart cards and paper vouchers and also sought feedback from various stakeholders.
-
Government Releases Draft Rules For M-Wallets, Smart Cards
The draft IT (Security of Prepaid Payment Instruments) Rules 2017 have been designed to ensure adequate integrity, security and confidentiality of electronic payments effected through PPIs.
-
RBI Extends Period Of Enhanced Prepaid Payment Instruments Limit
The decision comes on the day when the enhanced limit from Rs 10,000 to Rs 20,000 came to an end. At present, 47 non-bank entities and 45 banks are operating payment systems for PPI.
-
RBI Allows Banks To Issue Prepaid Payment Instruments To Unlisted Companies, Public Entities
The RBI has instructed banks to issue prepaid payment instruments to only those entities or employers that have a bank account with them.
-
RBI Fears Cyber Attack On Prepaid Payment Instruments, Asks Issuers To Conduct Security Audit
With the withdrawal of legal tender characteristics of old Rs 500 and Rs 1,000 notes (Specified Bank Notes or SBN), the use of alternate modes of payment, specifically e-wallets, has gained momentum, the RBI said.
-
RBI Issues Alert Against Prepaid Payment Instruments By Illegal Entities
The Reserve Bank of India (RBI) on Thursday cautioned the public against Prepaid Payment Instruments issued by unauthorised entities.
-
Paytm Payments Bank Can't Offer Services, Including Wallet, After Feb 29: RBI
The Reserve Bank of India on Wednesday barred Paytm Payments Bank Ltd from accepting deposits or allowing credit transactions, or top-ups, in customer accounts or prepaid instruments - like FASTags - linked to those accounts, after Feb 29.
-
No Charge on Normal UPI Payments, 1.1 Percent Fee to Be Levied on PPI Merchant Transactions: NPCI
National Payments Corporation of India (NPCI) on Wednesday said there is no charge for the bank account to bank account-based UPI payments or normal UPI payments. However, interchange charges are only applicable for the prepaid payment instruments (PPI) merchant transactions and there is no charge to customers, NPCI clarified in a statement.
-
Amazon Pay India Faces Penalty of Over Rs. 3.06 Crore by RBI for Non-Compliance
The Reserve Bank of India on Friday said it has imposed a penalty of over Rs. 3.06 crore on Amazon Pay (India) Private Limited for non-compliance with certain provisions related to Prepaid Payment Instruments (PPIs) and Know Your Customer (KYC) direction. "It was observed that the entity was non-compliant with the directions issued by RBI on KYC re...
-
Amazon Pay Fined Rs 3.06 Crore For Non-Compliance With Norms
The Reserve Bank of India todaysaid it has imposed a penalty of over Rs 3.06 crore on Amazon Pay (India) Private Limited for non-compliance with certain provisions related to Prepaid Payment Instruments (PPIs) and Know Your Customer (KYC) direction.
-
Travellers From G20 Countries Can Use UPI Facility At 3 Airports: RBI
The RBI on Tuesday said travellers from G-20 countries arriving at Bengaluru, Mumbai and New Delhi international airports can get Prepaid Payment Instruments wallets linked to UPI for making payments to over five crore merchant outlets across India.
-
RBI Bars Fintech Companies From Loading Cards Using Credit Lines: 10 Points to Understand the Move
The Reserve Bank of India (RBI) has issued a notice to all non-bank entities offering payment instruments to restrict them from loading instruments including prepaid cards using credit lines. Fintech companies are currently assessing the situation.
-
Fintech Players Stop Customers' Transactions After RBI Order
Prepaid payment instruments (PPIs) are learnt to have stopped customers transactions on their prepaid cards in reaction to RBI's notification
-
RBI Cautions Public Against Prepaid Payment Instruments Issued by Unauthorised Entities
The RBI said Gurugram-registered sRide Tech Private Limited is operating a pre-paid instrument (wallet) through its car-pooling app sRide without obtaining the required permissions, as it cautioned the public against using applications issued by unauthorised entities.
-
RBI Introduces New Prepaid Payment Instrument
PPIs are financial instruments that facilitate the purchase of goods and services against the value stored on such instruments.
-
Government Releases Draft Rules For M-Wallets, Smart Cards
The government has released draft guidelines for transactions made through prepaid payment instruments (PPIs) like mobile wallets, smart cards and paper vouchers and also sought feedback from various stakeholders.
-
Government Releases Draft Rules For M-Wallets, Smart Cards
The draft IT (Security of Prepaid Payment Instruments) Rules 2017 have been designed to ensure adequate integrity, security and confidentiality of electronic payments effected through PPIs.
-
RBI Extends Period Of Enhanced Prepaid Payment Instruments Limit
The decision comes on the day when the enhanced limit from Rs 10,000 to Rs 20,000 came to an end. At present, 47 non-bank entities and 45 banks are operating payment systems for PPI.
-
RBI Allows Banks To Issue Prepaid Payment Instruments To Unlisted Companies, Public Entities
The RBI has instructed banks to issue prepaid payment instruments to only those entities or employers that have a bank account with them.
-
RBI Fears Cyber Attack On Prepaid Payment Instruments, Asks Issuers To Conduct Security Audit
With the withdrawal of legal tender characteristics of old Rs 500 and Rs 1,000 notes (Specified Bank Notes or SBN), the use of alternate modes of payment, specifically e-wallets, has gained momentum, the RBI said.
