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Daily Archives: October 20, 2017
Understanding the types of Prepaid Instruments under Payment and Settlements Act
Under the Master Directions for PPIs (MD-PPI), three types of PPIs are recognized namely a) Closed System PPIs b) Semi-Closed System PPIs c) Open System PPIs Closed System PPIs are those PPIs which are issued by an entity for facilitating the purchase … Continue reading
Posted in Cyber Law
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The PPI Ecosystem and the Power of the industry to lobby
The Prepaid Instrument Eco System in India under the Payment and Settlements Act 2007 has licensed several “Payment System Operators” under the Act. The list of such operators is available here. The list consists of Two Financial Market Infrastructure operators … Continue reading
Posted in Cyber Law
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New RBI Norms for Prepaid Instruments make Digital payment Companies squirm
On 11th October 2017, RBI came out with a comprehensive “Master Direction” applicable to all Prepaid Payment Instrument Issuers, System Providers and System participants. This was mainly a consolidation of all earlier guidelines. However, it appears that some of the … Continue reading
Posted in Cyber Law
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