RBI has announced interoperability guidelines for wallets and here are the key takeaways:
- PPI issuers shall facilitate all basic / standard features of interoperability of UPI.
- Where PPIs are issued in the form of wallets, interoperability across PPIs shall be enabled through UPI.
- Where PPIs are issued in the form of cards, the cards shall be affiliated to the authorised card networks.
- PPI issuers operating exclusively in specific segments like Meal, Gift and MTS may also implement interoperability.
- The interoperability shall be facilitated to all KYC compliant PPI accounts and entire acceptance infrastructure.