The Status Quo of Payments in India

RBI does not want the operators to become banks, which is very valid as it would give rise to money laundering and of course operators then would dis-intermediate the banks. However, most operators are already making tonnes of money on VAS like premium SMS, ringtones, downloads and such. Why there aren’t any instruments which allow me to do a payment transaction which is not attached to a card or a bank account for things which are not sold by the operators? The lack of the same led to the downfall of mchek, they are on 100m phones but then only a fraction of the owners have a credit card or a bank account.
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