{"id":3952,"date":"2018-04-14T00:52:06","date_gmt":"2018-04-13T19:22:06","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=3952"},"modified":"2023-12-02T10:32:18","modified_gmt":"2023-12-02T05:02:18","slug":"authorization-process-prepaid-payment-instruments-ppimobile-wallet","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\/","title":{"rendered":"HOW TO APPLY TO RBI FOR MOBILE WALLET\/ PREPAID PAYMENT INSTRUMENTS"},"content":{"rendered":"<figure id=\"attachment_8737\" aria-describedby=\"caption-attachment-8737\" style=\"width: 800px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2018\/04\/dc-Cover-rd4ukkbvoccrv3c1enjs815c77-20160617004202.Medi_.jpeg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-8737\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2018\/04\/dc-Cover-rd4ukkbvoccrv3c1enjs815c77-20160617004202.Medi_.jpeg\" alt=\"www.carajput.com; ReserveBank of India\" width=\"800\" height=\"448\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2018\/04\/dc-Cover-rd4ukkbvoccrv3c1enjs815c77-20160617004202.Medi_.jpeg 800w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2018\/04\/dc-Cover-rd4ukkbvoccrv3c1enjs815c77-20160617004202.Medi_-300x168.jpeg 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2018\/04\/dc-Cover-rd4ukkbvoccrv3c1enjs815c77-20160617004202.Medi_-768x430.jpeg 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/a><figcaption id=\"caption-attachment-8737\" class=\"wp-caption-text\">www.carajput.com; Reserve Bank of India<\/figcaption><\/figure>\n<p style=\"text-align: justify;\">The <a href=\"https:\/\/carajput.com\/rbi-consulting.php\">Reserve Bank of India<\/a> issued guidelines for prepaid payment instruments (PPI) such as closed, semi-closed, and open wallets. According to the new guidelines, all the PPIs will now be interoperable, which means will allow transaction with each other<\/p>\n<ul style=\"text-align: justify;\">\n<li>A non-bank entity desirous of setting up payment systems for issuance of PPIs shall apply for authorisation in\u00a0Form A(available on RBI website) as prescribed under Regulation 3(2) of the Payment and Settlement Systems Regulations, 2008 along with the requisite application fees.<\/li>\n<li>The applications shall be initially screened by RBI to ensure\u00a0<em>prima facie\u00a0<\/em>eligibility of the applicants. The directors of the applicant entity shall submit a declaration in the enclosed format (Annex-3). Applications of those entities not meeting the eligibility criteria, or those which are incomplete \/ not in the prescribed form with all details, shall be returned without refund of the application fees.<\/li>\n<li>In addition to the compliance with the applicable guidelines, RBI shall also apply checks, inter-alia, on certain essential aspects like customer service and efficiency, technical and other related requirements, safety and security aspects, etc. before granting in-principle approval to the applicants.<\/li>\n<li>Subject to meeting the eligibility criteria and other conditions, the <a href=\"https:\/\/carajput.com\/rbi-consulting.php\">RBI<\/a> shall issue an \u2018in-principle\u2019 approval, which shall be valid for a period of six months. The entity shall submit a satisfactory System Audit Report (SAR) to RBI within these six months, failing which the in-principle approval shall lapse automatically. SAR shall be accompanied by a certificate from the Chartered Accountant regarding compliance with the requirement of minimum positive net-worth of Rs. 5 crore. An entity can seek one-time extension for a maximum period of six months for submission of SAR by making a request in writing, to DPSS, Central Office, RBI, Mumbai, in advance with valid reasons.<\/li>\n<\/ul>\n<p>Also, read the related Blogs:<\/p>\n<ul>\n<li><a href=\"https:\/\/carajput.com\/blog\/mca-proposes-change-in-process-of-obtaining-fresh-director-identification-number\/\">Process of obtaining fresh DIN<\/a><\/li>\n<li><a href=\"https:\/\/carajput.com\/learn\/are-you-a-directorthen-you-have-to-file-ekyc-dir3-form.html\">Are you a Director- then need to file E-KYC DIR-3 Form<\/a><\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li>Pursuant to receipt of satisfactory SAR and net-worth certificate, the <a href=\"https:\/\/carajput.com\/rbi-consulting.php\">RBI<\/a> shall grant final Certificate of Authorisation. \u00a0Entities shall commence business within six months( extention allowed for next 6 months in case of valid reasons) from the grant of Certificate of Authorisation\u00a0.<\/li>\n<li>The Certificate of Authorisation shall be valid for five years.<\/li>\n<li>Entities seeking renewal of authorisation shall apply in writing to DPSS, RBI, Central Office, Mumbai at least three months before the expiry of validity of Certificate of Authorisation.<\/li>\n<li>Any proposed major change, such as changes in product features \/ process, structure or operation of the payment system, etc. shall be communicated with complete details, by way of a letter, addressed to the Chief General Manager, DPSS, RBI, Central Office, Mumbai. RBI shall endeavor to reply within 15 business days after receipt of above communication at DPSS, RBI, Central Office, Mumbai.<\/li>\n<li>Any takeover or acquisition of control or change in management of a non-bank entity shall be communicated by way of a letter to the Chief General Manager, DPSS, RBI, Central Office, Mumbai within 15 days with complete details, including \u2018Declaration and Undertaking\u2019 (Annex-3) by each of the new directors,<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">PPI issuers shall ensure that the name of the company which has received approval \/ authorisation for issuance and operating of PPIs, is prominently displayed along with the PPI brand name in all instances. The authorised entities shall also regularly keep<a href=\"https:\/\/carajput.com\/rbi-consulting.php\"> RBI<\/a> informed regarding the brand names employed \/ to be employed for their products.<\/p>\n<p style=\"text-align: justify;\">PPI issuers shall ensure that no interest is payable on PPI balances.<\/p>\n<p style=\"text-align: justify;\">PPIs shall be permitted to be loaded \/ reloaded by cash, by debit to a bank account, by credit and debit cards, and other PPIs- shall be in INR only<\/p>\n<p style=\"text-align: justify;\">Cash loading to PPIs shall be limited to Rs.50,000\/- per month subject to overall limit of the PPI.<\/p>\n<p style=\"text-align: justify;\">Issuers shall ensure preservation of records and confidentiality of customer information in their possession as well as in the possession of their authorised \/ designated agents.<\/p>\n<p style=\"text-align: justify;\">Issuers and their authorised \/ designated agents shall ensure adherence to applicable laws of the land, including KYC \/ AML \/ CFT norms.<\/p>\n<p style=\"text-align: justify;\"><strong><em><span style=\"text-decoration: underline;\">Existing non-bank PPI\/wallet<\/span><\/em><\/strong><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 10.0pt; font-family: 'Arial','sans-serif'; color: black;\">Existing non-bank PPI issuers (at the time of issuance of this Master Direction) shall comply with the minimum positive net-worth requirement of Rs. 15 crore for the financial position as on March 31, 2020 (audited balance sheet). This shall be reported to RBI, along with CA certificate in the enclosed format (<\/span><span style=\"font-size: 10.0pt; font-family: 'Arial','sans-serif';\">Annex-2<\/span><span style=\"font-size: 10.0pt; font-family: 'Arial','sans-serif'; color: black;\">) and audited Balance Sheet, by September 30, 2020 failing which the entity may not be permitted to carry out this business. Thereafter, the minimum positive net-worth of Rs. 15 crore shall be maintained at all times. Till such time, the existing PPI issuers shall continue to maintain the capital requirements applicable to them at the time of their authorisation.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 10.0pt; font-family: 'Arial','sans-serif'; color: black;\">PPI issuers shall maintain a log of all the transactions undertaken using the PPIs for at least ten years. This data shall be made available for scrutiny to RBI or any other agency \/ agencies as may be advised by RBI. The PPI issuers shall also file Suspicious Transaction Reports (STRs) to Financial Intelligence Unit-India (FIU-IND).<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Reserve Bank of India issued guidelines for prepaid payment instruments (PPI) such as closed, semi-closed, and open wallets. According to the new guidelines, all the PPIs will now be interoperable, which means will allow transaction with each other A non-bank entity desirous of setting up payment systems for issuance of PPIs shall apply for &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1250,1246,1249,1255,1248,1254,1247,1252,1253,1251],"class_list":["post-3952","post","type-post","status-publish","format-standard","hentry","category-others","tag-authorization-process-for-prepaid-payment-instruments","tag-capital-and-other-eligibility-requirements","tag-certificate-of-authorisation-shall-be-valid-for-five-years","tag-kyc-norms","tag-master-direction-on-issuance-and-operation-of-prepaid-payment-instruments","tag-minimum-positive-net-worth-requirement","tag-mobile-wallets-to-become-interoperable","tag-no-interest-is-payable-on-ppi-balances","tag-ppis-limit-at-rs-50000-a-month","tag-system-audit-report"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 5.0.2 - aioseo.com -->\n\t<meta name=\"description\" content=\"The Reserve Bank of India issued guidelines for prepaid payment instruments (PPI) such as closed, semi-closed, and open wallets. According to the new guidelines, all the PPIs will now be interoperable, which means will allow transaction with each other A non-bank entity desirous of setting up payment systems for issuance of PPIs shall apply for\" \/>\n\t<meta name=\"robots\" content=\"max-image-preview:large\" \/>\n\t<meta name=\"author\" content=\"Rajput Jain &amp; Associates\"\/>\n\t<meta name=\"keywords\" content=\"authorization process for prepaid payment instruments,capital and other eligibility requirements,certificate of authorisation shall be valid for five years,kyc norms,master direction on issuance and operation of prepaid payment instruments,minimum positive net-worth requirement,mobile wallets to become interoperable,no interest is payable on ppi balances,ppis limit at rs 50000 a month,system audit report,others\" \/>\n\t<link rel=\"canonical\" href=\"https:\/\/carajput.com\/blog\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\/\" \/>\n\t<meta name=\"generator\" content=\"All in One SEO (AIOSEO) 5.0.2\" \/>\n\t\t<meta property=\"og:locale\" content=\"en_US\" \/>\n\t\t<meta property=\"og:site_name\" content=\"Rajput Jain &amp; Associates | Updates on GST, Taxation and Company Laws\" \/>\n\t\t<meta property=\"og:type\" content=\"article\" \/>\n\t\t<meta property=\"og:title\" content=\"HOW TO APPLY TO RBI FOR MOBILE WALLET\/ PREPAID PAYMENT INSTRUMENTS | RJA\" \/>\n\t\t<meta property=\"og:description\" content=\"The Reserve Bank of India issued guidelines for prepaid payment instruments (PPI) such as closed, semi-closed, and open wallets. According to the new guidelines, all the PPIs will now be interoperable, which means will allow transaction with each other A non-bank entity desirous of setting up payment systems for issuance of PPIs shall apply for\" \/>\n\t\t<meta property=\"og:url\" content=\"https:\/\/carajput.com\/blog\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\/\" \/>\n\t\t<meta property=\"og:image\" content=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/05\/carajput-logo.png\" \/>\n\t\t<meta property=\"og:image:secure_url\" content=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/05\/carajput-logo.png\" \/>\n\t\t<meta property=\"article:published_time\" content=\"2018-04-13T19:22:06+00:00\" \/>\n\t\t<meta property=\"article:modified_time\" content=\"2023-12-02T05:02:18+00:00\" \/>\n\t\t<meta name=\"twitter:card\" content=\"summary\" \/>\n\t\t<meta name=\"twitter:title\" content=\"HOW TO APPLY TO RBI FOR MOBILE WALLET\/ PREPAID PAYMENT INSTRUMENTS | RJA\" \/>\n\t\t<meta name=\"twitter:description\" content=\"The Reserve Bank of India issued guidelines for prepaid payment instruments (PPI) such as closed, semi-closed, and open wallets. According to the new guidelines, all the PPIs will now be interoperable, which means will allow transaction with each other A non-bank entity desirous of setting up payment systems for issuance of PPIs shall apply for\" \/>\n\t\t<meta name=\"twitter:image\" content=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/05\/carajput-logo.png\" \/>\n\t\t<script type=\"application\/ld+json\" class=\"aioseo-schema\">\n\t\t\t{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/carajput.com\\\/blog\\\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\\\/#article\",\"name\":\"HOW TO APPLY TO RBI FOR MOBILE WALLET\\\/ PREPAID PAYMENT INSTRUMENTS | RJA\",\"headline\":\"HOW TO APPLY TO RBI FOR MOBILE WALLET\\\/ PREPAID PAYMENT INSTRUMENTS\",\"author\":{\"@id\":\"https:\\\/\\\/carajput.com\\\/blog\\\/author\\\/carajputa\\\/#author\"},\"publisher\":{\"@id\":\"https:\\\/\\\/carajput.com\\\/blog\\\/#organization\"},\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/carajput.com\\\/blog\\\/wp-content\\\/uploads\\\/2018\\\/04\\\/dc-Cover-rd4ukkbvoccrv3c1enjs815c77-20160617004202.Medi_.jpeg\",\"@id\":\"https:\\\/\\\/carajput.com\\\/blog\\\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\\\/#articleImage\",\"width\":800,\"height\":448,\"caption\":\"www.carajput.com; ReserveBank of India\"},\"datePublished\":\"2018-04-14T00:52:06+05:30\",\"dateModified\":\"2023-12-02T10:32:18+05:30\",\"inLanguage\":\"en-US\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/carajput.com\\\/blog\\\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\\\/#webpage\"},\"isPartOf\":{\"@id\":\"https:\\\/\\\/carajput.com\\\/blog\\\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\\\/#webpage\"},\"articleSection\":\"Others, Authorization Process for prepaid payment instruments, Capital and other eligibility requirements, Certificate of Authorisation shall be valid for five years, kyc norms, Master Direction on Issuance and Operation of Prepaid Payment Instruments, minimum positive net-worth requirement, Mobile wallets to become interoperable, no interest is payable on PPI balances, PPIs limit at Rs 50000 a month, System Audit Report\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/carajput.com\\\/blog\\\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\\\/#breadcrumblist\",\"itemListElement\":[{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/carajput.com\\\/blog\\\/#listItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/carajput.com\\\/blog\\\/\",\"nextItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/carajput.com\\\/blog\\\/category\\\/others\\\/#listItem\",\"name\":\"Others\"}},{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/carajput.com\\\/blog\\\/category\\\/others\\\/#listItem\",\"position\":2,\"name\":\"Others\",\"item\":\"https:\\\/\\\/carajput.com\\\/blog\\\/category\\\/others\\\/\",\"nextItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/carajput.com\\\/blog\\\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\\\/#listItem\",\"name\":\"HOW TO APPLY TO RBI FOR MOBILE WALLET\\\/ PREPAID PAYMENT INSTRUMENTS\"},\"previousItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/carajput.com\\\/blog\\\/#listItem\",\"name\":\"Home\"}},{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/carajput.com\\\/blog\\\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\\\/#listItem\",\"position\":3,\"name\":\"HOW TO APPLY TO RBI FOR MOBILE WALLET\\\/ PREPAID PAYMENT INSTRUMENTS\",\"previousItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/carajput.com\\\/blog\\\/category\\\/others\\\/#listItem\",\"name\":\"Others\"}}]},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/carajput.com\\\/blog\\\/#organization\",\"name\":\"Rajput Jain and Associates\",\"description\":\"Updates on GST, Taxation and Company Laws\",\"url\":\"https:\\\/\\\/carajput.com\\\/blog\\\/\",\"telephone\":\"+919555555480\",\"logo\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/carajput.com\\\/blog\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/carajput-logo.png\",\"@id\":\"https:\\\/\\\/carajput.com\\\/blog\\\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\\\/#organizationLogo\",\"width\":370,\"height\":70},\"image\":{\"@id\":\"https:\\\/\\\/carajput.com\\\/blog\\\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\\\/#organizationLogo\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/carajput.com\\\/blog\\\/author\\\/carajputa\\\/#author\",\"url\":\"https:\\\/\\\/carajput.com\\\/blog\\\/author\\\/carajputa\\\/\",\"name\":\"Rajput Jain &amp; Associates\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\\\/\\\/carajput.com\\\/blog\\\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\\\/#authorImage\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/07fd68a5f3c96ec8a6607f448f2384b3247803a7c20f5da46c6657ee27490ea2?s=96&d=mm&r=g\",\"width\":96,\"height\":96,\"caption\":\"Rajput Jain &amp; Associates\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/carajput.com\\\/blog\\\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\\\/#webpage\",\"url\":\"https:\\\/\\\/carajput.com\\\/blog\\\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\\\/\",\"name\":\"HOW TO APPLY TO RBI FOR MOBILE WALLET\\\/ PREPAID PAYMENT INSTRUMENTS | RJA\",\"description\":\"The Reserve Bank of India issued guidelines for prepaid payment instruments (PPI) such as closed, semi-closed, and open wallets. According to the new guidelines, all the PPIs will now be interoperable, which means will allow transaction with each other A non-bank entity desirous of setting up payment systems for issuance of PPIs shall apply for\",\"inLanguage\":\"en-US\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/carajput.com\\\/blog\\\/#website\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/carajput.com\\\/blog\\\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\\\/#breadcrumblist\"},\"author\":{\"@id\":\"https:\\\/\\\/carajput.com\\\/blog\\\/author\\\/carajputa\\\/#author\"},\"creator\":{\"@id\":\"https:\\\/\\\/carajput.com\\\/blog\\\/author\\\/carajputa\\\/#author\"},\"datePublished\":\"2018-04-14T00:52:06+05:30\",\"dateModified\":\"2023-12-02T10:32:18+05:30\"},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/carajput.com\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/carajput.com\\\/blog\\\/\",\"name\":\"Rajput Jain & Associates - Chartered Accountants in Delhi\",\"description\":\"Updates on GST, Taxation and Company Laws\",\"inLanguage\":\"en-US\",\"publisher\":{\"@id\":\"https:\\\/\\\/carajput.com\\\/blog\\\/#organization\"}}]}\n\t\t<\/script>\n\t\t<!-- All in One SEO -->\n\n","aioseo_head_json":{"title":"HOW TO APPLY TO RBI FOR MOBILE WALLET\/ PREPAID PAYMENT INSTRUMENTS | RJA","description":"The Reserve Bank of India issued guidelines for prepaid payment instruments (PPI) such as closed, semi-closed, and open wallets. According to the new guidelines, all the PPIs will now be interoperable, which means will allow transaction with each other A non-bank entity desirous of setting up payment systems for issuance of PPIs shall apply for","canonical_url":"https:\/\/carajput.com\/blog\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\/","robots":"max-image-preview:large","keywords":"authorization process for prepaid payment instruments,capital and other eligibility requirements,certificate of authorisation shall be valid for five years,kyc norms,master direction on issuance and operation of prepaid payment instruments,minimum positive net-worth requirement,mobile wallets to become interoperable,no interest is payable on ppi balances,ppis limit at rs 50000 a month,system audit report,others","webmasterTools":{"miscellaneous":""},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/carajput.com\/blog\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\/#article","name":"HOW TO APPLY TO RBI FOR MOBILE WALLET\/ PREPAID PAYMENT INSTRUMENTS | RJA","headline":"HOW TO APPLY TO RBI FOR MOBILE WALLET\/ PREPAID PAYMENT INSTRUMENTS","author":{"@id":"https:\/\/carajput.com\/blog\/author\/carajputa\/#author"},"publisher":{"@id":"https:\/\/carajput.com\/blog\/#organization"},"image":{"@type":"ImageObject","url":"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2018\/04\/dc-Cover-rd4ukkbvoccrv3c1enjs815c77-20160617004202.Medi_.jpeg","@id":"https:\/\/carajput.com\/blog\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\/#articleImage","width":800,"height":448,"caption":"www.carajput.com; ReserveBank of India"},"datePublished":"2018-04-14T00:52:06+05:30","dateModified":"2023-12-02T10:32:18+05:30","inLanguage":"en-US","mainEntityOfPage":{"@id":"https:\/\/carajput.com\/blog\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\/#webpage"},"isPartOf":{"@id":"https:\/\/carajput.com\/blog\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\/#webpage"},"articleSection":"Others, Authorization Process for prepaid payment instruments, Capital and other eligibility requirements, Certificate of Authorisation shall be valid for five years, kyc norms, Master Direction on Issuance and Operation of Prepaid Payment Instruments, minimum positive net-worth requirement, Mobile wallets to become interoperable, no interest is payable on PPI balances, PPIs limit at Rs 50000 a month, System Audit Report"},{"@type":"BreadcrumbList","@id":"https:\/\/carajput.com\/blog\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\/#breadcrumblist","itemListElement":[{"@type":"ListItem","@id":"https:\/\/carajput.com\/blog\/#listItem","position":1,"name":"Home","item":"https:\/\/carajput.com\/blog\/","nextItem":{"@type":"ListItem","@id":"https:\/\/carajput.com\/blog\/category\/others\/#listItem","name":"Others"}},{"@type":"ListItem","@id":"https:\/\/carajput.com\/blog\/category\/others\/#listItem","position":2,"name":"Others","item":"https:\/\/carajput.com\/blog\/category\/others\/","nextItem":{"@type":"ListItem","@id":"https:\/\/carajput.com\/blog\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\/#listItem","name":"HOW TO APPLY TO RBI FOR MOBILE WALLET\/ PREPAID PAYMENT INSTRUMENTS"},"previousItem":{"@type":"ListItem","@id":"https:\/\/carajput.com\/blog\/#listItem","name":"Home"}},{"@type":"ListItem","@id":"https:\/\/carajput.com\/blog\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\/#listItem","position":3,"name":"HOW TO APPLY TO RBI FOR MOBILE WALLET\/ PREPAID PAYMENT INSTRUMENTS","previousItem":{"@type":"ListItem","@id":"https:\/\/carajput.com\/blog\/category\/others\/#listItem","name":"Others"}}]},{"@type":"Organization","@id":"https:\/\/carajput.com\/blog\/#organization","name":"Rajput Jain and Associates","description":"Updates on GST, Taxation and Company Laws","url":"https:\/\/carajput.com\/blog\/","telephone":"+919555555480","logo":{"@type":"ImageObject","url":"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/05\/carajput-logo.png","@id":"https:\/\/carajput.com\/blog\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\/#organizationLogo","width":370,"height":70},"image":{"@id":"https:\/\/carajput.com\/blog\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\/#organizationLogo"}},{"@type":"Person","@id":"https:\/\/carajput.com\/blog\/author\/carajputa\/#author","url":"https:\/\/carajput.com\/blog\/author\/carajputa\/","name":"Rajput Jain &amp; Associates","image":{"@type":"ImageObject","@id":"https:\/\/carajput.com\/blog\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\/#authorImage","url":"https:\/\/secure.gravatar.com\/avatar\/07fd68a5f3c96ec8a6607f448f2384b3247803a7c20f5da46c6657ee27490ea2?s=96&d=mm&r=g","width":96,"height":96,"caption":"Rajput Jain &amp; Associates"}},{"@type":"WebPage","@id":"https:\/\/carajput.com\/blog\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\/#webpage","url":"https:\/\/carajput.com\/blog\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\/","name":"HOW TO APPLY TO RBI FOR MOBILE WALLET\/ PREPAID PAYMENT INSTRUMENTS | RJA","description":"The Reserve Bank of India issued guidelines for prepaid payment instruments (PPI) such as closed, semi-closed, and open wallets. According to the new guidelines, all the PPIs will now be interoperable, which means will allow transaction with each other A non-bank entity desirous of setting up payment systems for issuance of PPIs shall apply for","inLanguage":"en-US","isPartOf":{"@id":"https:\/\/carajput.com\/blog\/#website"},"breadcrumb":{"@id":"https:\/\/carajput.com\/blog\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\/#breadcrumblist"},"author":{"@id":"https:\/\/carajput.com\/blog\/author\/carajputa\/#author"},"creator":{"@id":"https:\/\/carajput.com\/blog\/author\/carajputa\/#author"},"datePublished":"2018-04-14T00:52:06+05:30","dateModified":"2023-12-02T10:32:18+05:30"},{"@type":"WebSite","@id":"https:\/\/carajput.com\/blog\/#website","url":"https:\/\/carajput.com\/blog\/","name":"Rajput Jain & Associates - Chartered Accountants in Delhi","description":"Updates on GST, Taxation and Company Laws","inLanguage":"en-US","publisher":{"@id":"https:\/\/carajput.com\/blog\/#organization"}}]},"og:locale":"en_US","og:site_name":"Rajput Jain &amp; Associates | Updates on GST, Taxation and Company Laws","og:type":"article","og:title":"HOW TO APPLY TO RBI FOR MOBILE WALLET\/ PREPAID PAYMENT INSTRUMENTS | RJA","og:description":"The Reserve Bank of India issued guidelines for prepaid payment instruments (PPI) such as closed, semi-closed, and open wallets. According to the new guidelines, all the PPIs will now be interoperable, which means will allow transaction with each other A non-bank entity desirous of setting up payment systems for issuance of PPIs shall apply for","og:url":"https:\/\/carajput.com\/blog\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\/","og:image":"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/05\/carajput-logo.png","og:image:secure_url":"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/05\/carajput-logo.png","article:published_time":"2018-04-13T19:22:06+00:00","article:modified_time":"2023-12-02T05:02:18+00:00","twitter:card":"summary","twitter:title":"HOW TO APPLY TO RBI FOR MOBILE WALLET\/ PREPAID PAYMENT INSTRUMENTS | RJA","twitter:description":"The Reserve Bank of India issued guidelines for prepaid payment instruments (PPI) such as closed, semi-closed, and open wallets. According to the new guidelines, all the PPIs will now be interoperable, which means will allow transaction with each other A non-bank entity desirous of setting up payment systems for issuance of PPIs shall apply for","twitter:image":"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2021\/05\/carajput-logo.png"},"aioseo_meta_data":{"post_id":"3952","title":"#post_title | RJA","description":null,"keywords":[],"keyphrases":{"focus":{"keyphrase":"","score":0,"analysis":{"keyphraseInTitle":{"score":0,"maxScore":9,"error":1}}},"additional":[]},"primary_term":null,"canonical_url":null,"og_title":null,"og_description":null,"og_object_type":"default","og_image_type":"default","og_image_url":null,"og_image_width":null,"og_image_height":null,"og_image_custom_url":null,"og_image_custom_fields":null,"og_video":"","og_custom_url":null,"og_article_section":null,"og_article_tags":[],"twitter_use_og":false,"twitter_card":"default","twitter_image_type":"default","twitter_image_url":null,"twitter_image_custom_url":null,"twitter_image_custom_fields":null,"twitter_title":null,"twitter_description":null,"schema":{"blockGraphs":[],"customGraphs":[],"default":{"data":{"Article":{"id":"#aioseo-article-64b91b9b2e74b","slug":"article","graphName":"Article","label":"Article","properties":{"type":"BlogPosting","name":"#post_title","headline":"#post_title","description":"#post_excerpt","image":"","keywords":"","author":{"name":"#author_name","url":"#author_url"},"dates":{"include":true,"datePublished":"","dateModified":""}}},"Course":[],"Dataset":[],"FAQPage":[],"Movie":[],"Person":[],"Product":[],"ProductReview":[],"Car":[],"Recipe":[],"Service":[],"SoftwareApplication":[],"WebPage":[]},"graphName":"Article","isEnabled":true},"graphs":[]},"schema_type":"default","schema_type_options":"{\"article\":{\"articleType\":\"BlogPosting\"},\"course\":{\"name\":\"\",\"description\":\"\",\"provider\":\"\"},\"faq\":{\"pages\":[]},\"product\":{\"reviews\":[]},\"recipe\":{\"ingredients\":[],\"instructions\":[],\"keywords\":[]},\"software\":{\"reviews\":[],\"operatingSystems\":[]},\"webPage\":{\"webPageType\":\"WebPage\"}}","pillar_content":false,"robots_default":true,"robots_noindex":false,"robots_noarchive":false,"robots_nosnippet":false,"robots_nofollow":false,"robots_noimageindex":false,"robots_noodp":false,"robots_notranslate":false,"robots_max_snippet":"-1","robots_max_videopreview":"-1","robots_max_imagepreview":"large","priority":null,"frequency":"default","local_seo":null,"limit_modified_date":false,"created":"2021-07-26 11:13:01","updated":"2023-12-02 05:03:03","focus_keyword":null,"additional_keywords":null,"truseo_locale":null,"ai":null,"breadcrumb_settings":null,"seo_analyzer_scan_date":null},"aioseo_breadcrumb":"<div class=\"aioseo-breadcrumbs\"><span class=\"aioseo-breadcrumb\">\n\t\t\t<a href=\"https:\/\/carajput.com\/blog\/\" title=\"Home\">Home<\/a>\n\t\t<\/span><span class=\"aioseo-breadcrumb-separator\">\u00bb<\/span><span class=\"aioseo-breadcrumb\">\n\t\t\t<a href=\"https:\/\/carajput.com\/blog\/category\/others\/\" title=\"Others\">Others<\/a>\n\t\t<\/span><span class=\"aioseo-breadcrumb-separator\">\u00bb<\/span><span class=\"aioseo-breadcrumb\">\n\t\t\tHOW TO APPLY TO RBI FOR MOBILE WALLET\/ PREPAID PAYMENT INSTRUMENTS\n\t\t<\/span><\/div>","aioseo_breadcrumb_json":[{"label":"Home","link":"https:\/\/carajput.com\/blog\/"},{"label":"Others","link":"https:\/\/carajput.com\/blog\/category\/others\/"},{"label":"HOW TO APPLY TO RBI FOR MOBILE WALLET\/ PREPAID PAYMENT INSTRUMENTS","link":"https:\/\/carajput.com\/blog\/authorization-process-prepaid-payment-instruments-ppimobile-wallet\/"}],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3952","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=3952"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3952\/revisions"}],"predecessor-version":[{"id":15413,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3952\/revisions\/15413"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=3952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=3952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=3952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}