Facing the possibility of a tightening of the mobile wallet or prepaid payments instrument (PPI) guidelines by the Reserve Bank of India (RBI), the digital payments industry is planning to knock at the regulator’s door with a request for a relook into some of the regulatory proposals.
“Industry participants are gathering their inputs, and the plan is to share definitive comments and suggestions with the central bank through the industry body (Payments Council of India) within the next two days,” said the chief executive of a major digital payments company, who did not wish to be identified.
