Revolut gets RBI nod for PPIs, wallets

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British fintech major Revolut has received the final authorisation from the Reserve Bank of India (RBI) to issue Prepaid Payment Instruments (PPIs), including prepaid cards and digital wallets with Unified Payments Interface (UPI) integration.

The full authorisation comes in less than a year after Revolut received in-principle approval from the RBI to issue mobile wallets in April 2024, enabling the company to now operate as a domestic payments provider in India.

Revolut India already holds licences to function as a Category-II Authorised Money…



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Revolut gets RBI nod for PPIs, wallets


British fintech major Revolut has received the final authorisation from the Reserve Bank of India (RBI) to issue Prepaid Payment Instruments (PPIs), including prepaid cards and digital wallets with Unified Payments Interface (UPI) integration.

The full authorisation comes in less than a year after Revolut received in-principle approval from the RBI to issue mobile wallets in April 2024, enabling the company to now operate as a domestic payments provider in India.

Revolut India already holds licences to function as a Category-II Authorised Money…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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