RBI has allowed ‘Non-Bank Payment System Providers’ to participate in centralised payment systems such as RTGS and NEFT. On a review of extant arrangements and after detailed discussions with Payment System Providers (PSPs), the RBI has decided to allow in phased manner, non-bank Payment System Providers’ (PSP)s, viz. Prepaid Payment Instrument (PPI) Issuers,Card Networks and White Label ATM Operators to participate in centralised payment systems as direct members.RBI has allowed ‘Non-Bank Payment System Providers’ to participate in centralised payment systems such as RTGS and NEFT. On a review of extant arrangements and after detailed discussions with Payment System Providers (PSPs), the RBI has decided to allow in phased manner, non-bank Payment System Providers’ (PSP)s, viz. Prepaid Payment Instrument (PPI) Issuers,Card Networks and White Label ATM Operators to participate in centralised payment systems as direct members.taxmann.com Latest Statutory HappeningsRead More
