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RBI announces wallet interoperability guidelines

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.

[More here]

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