Pratik Bhakta
Pratik Bhakta
The banking regulator wants credit payments on UPI to be routed through prepaid payment instruments, but teething issues related to bank charges and interchange rates are causing delays in the rollout
October 11, 2021
9 Min ReadPrepaid payment instruments, or digital wallets, are making a quiet comeback to India’s payments ecosystem. The same Unified Payments Interface system that contributed to sidelining digital wallets by making direct debit from bank accounts easy and fashionable is looking at PPIs to enable credit transactions on its rails.
Fintech platforms such as Bullet, Freo and LazyPay were forced to stop offering credit on UPI rails earlier this year because the regulations didn’t allow for such transactions. That’s set to change with the Reserve Bank of India proposing that fintech startups be allowed to route credit on UPI transactions through digital wallets, said two sources aware of the developments.
Share this read
Share this read
E-commerce
Premium Reads
By Aditi Shrivastava
IPO
the-crux
By Madhav Chanchani
Investments
Premium Reads
By Aditi Shrivastava
HealthTech
Premium Reads
By Supriya Roy
Logistics
Premium Reads
By Payal Ganguly
11 Min Read
By Aditi Shrivastava
8 Min Read
By Aditi Shrivastava
8 Min Read
By Team CapTable
10 Min Read
By Payal Ganguly
13 Min Read
By Pratik Bhakta
8 Min Read
By Aditi Shrivastava
Copyright 2022 © The CapTable
v1.0.866
Terms of Service
Privacy Policy