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The Reserve Coffer of India has assuredly issued guidelines for interoperability of wallets, one year, eight months and seven canicule afterwards the borderline of February 9th 2017 set by the Watal Committee for this assignment lapsed.

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The guidelines aren’t wallet affable either: back they aboriginal launched, wallets were meant to be an another to banks, essentially, food of baby amounts of money appropriate for baby transactions. With these guidelines, wallets are now appropriate to use UPI (Unified Payments Interface) for interoperability, and appropriate to assignment with a sponsor coffer for settlement.

It’s about the end of an era in agenda payments: the bazaar burden created by interoperability will force wallets to participate, and the annex on banks is congenital into the guidelines. Wallets will no best be absolute of banks.

Remember that absolute payments casework were additionally abundantly rendered asleep back the RBI came out with a bank-friendly action for adaptable banking.

The axial coffer is attractive at enabling three key phases and has set out guidelines for these: interoperability amid wallets through UPI, amid wallets and coffer accounts through UPI and for PPI cards via agenda networks.

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1. Compliance for PPI cards and wallets:

2. Interoperability for PPI cards via agenda networks: 

3. Interoperability via UPI

(source)

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RBI/2018-19/61DPSS.CO.PD.No.808/02.14.006/2018-19October 16, 2018

All Prepaid Acquittal Instrument Issuers, Adjustment Providers and Adjustment Participants

Madam / Dear Sir,

Prepaid Acquittal Instruments (PPIs) – Guidelines for Interoperability

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A advertence is arrive to the Master Direction DPSS.CO.PD.No.1164/02.14.006/2017-18 anachronous October 11, 2017 (updated as on December 29, 2017) on Issuance and Operation of PPIs (M.D.). As per the road-map laid bottomward therein, interoperability of all KYC-compliant PPIs was to be enabled in three phases – (i) interoperability of PPIs issued in the anatomy of wallets through Unified Payments Interface (UPI), (ii) interoperability amid wallets and coffer accounts through UPI, and (iii) interoperability for PPIs issued in the anatomy of cards through agenda networks.

2. In adjustment to adapt bigger for accomplishing of interoperability, circumscribed guidelines for enabling all phases are enclosed. Accommodating PPI issuers, who accept to accept interoperability shall ensure adherence to the amid guidelines, in accession to the instructions on KYC, aegis for affairs and appliance activity cycle, cyber security, artifice blockage and accident administration as in the M.D.

3. Banks shall additionally be guided by the RBI circulars DBS.CO/CSITE/BC.11/33.01.001/2015-16 anachronous June 2, 2016 on ‘Cyber Aegis Framework in Banks’ and DBS.CO.ITC.BC.No.6/ 31.02.008/2010-11 anachronous April 29, 2011 on ‘Working Group on Information Security, Electronic Banking, Technology Accident Administration and Cyber Frauds – Accomplishing of Recommendations’, as applicable.

4. Furthermore, all accommodating PPI issuers shall be guided by the abstruse blueprint / standards / requirements for accomplishing interoperability through UPI and agenda networks as per the requirements of National Payments Corporation of India (NPCI) and the corresponding agenda networks. NPCI and agenda networks shall facilitate accord by PPI issuers in UPI and agenda networks.

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5. These guidelines are issued beneath Section 18 apprehend with Section 10(2) of the Acquittal and Adjustment Systems Act, 2007.

Yours faithfully,(P. Vasudevan)Chief General Manager

Encl.: As above

Prepaid Acquittal Instruments (PPIs) – Operational Guidelines for Interoperability

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(DPSS.CO.PD. No. 808 / 02.14.006 / 2018-19 anachronous October 16, 2018)

1. Introduction1.1 Interoperability is the abstruse affinity that enables a acquittal adjustment to be acclimated in affiliation with added acquittal systems. Interoperability allows PPI Issuers, Adjustment Providers and Adjustment Participants in altered systems to undertake, bright and achieve acquittal affairs beyond systems after accommodating in assorted systems.

2. Requirements2.1 The requirements mentioned herein, with account to interoperability, are in accession to the accoutrement of Master Direction on PPIs.2.2 PPI issuers shall accept a Board accustomed action for accomplishing PPI interoperability.

3. Requirements for accomplishing interoperability: Common to Wallets and Cards3.1 Where PPIs are issued in the anatomy of wallets, interoperability beyond PPIs shall be enabled through UPI.3.2 Where PPIs are issued in the anatomy of cards, the cards shall be affiliated to the authorised agenda networks.3.3 All PPI issuers intending to apparatus interoperability through UPI and / or agenda networks shall attach to the instructions independent in these guidelines. PPI issuers operating alone in specific segments like Meal, Allowance and MTS may additionally apparatus interoperability.3.4 The interoperability shall be facilitated to all KYC adjustable PPI accounts and absolute accepting infrastructure.3.5 Abstruse requirements: PPI issuers shall attach to all the requirements of agenda networks / UPI including associates blazon and criteria, merchant on-boarding, adherence to assorted standards, rules and regulations applicative to the specific acquittal adjustment such as abstruse requirements, certifications and analysis requirements, governance, etc.3.6 Reconciliation, chump aegis and affliction redressal:a) PPI issuers shall ensure adherence to all guidelines / requirements of agenda networks / UPI in agreement of adaptation of positions at circadian / account / account or added common basis, as the case may be.b) PPI issuers shall attach to all altercation resolution and chump affliction redressal mechanisms as assigned by the agenda networks / UPI.

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4. Requirements for accomplishing interoperability through agenda networks4.1 Agenda networks are accustomed to onboard PPI issuers to accompany their network. Non-bank PPI issuers are acceptable to participate as associates / accessory associates of authorised agenda networks.4.2 Settlement: For the purpose of settlement, a non-bank PPI issuer can participate anon or through a sponsor coffer adjustment as the case may be. Non-bank PPI issuers shall attach to the requirements of corresponding agenda network’s adjustment system.4.3 Safety and security:a) As non-bank PPI issuers will affair interoperable cards in affiliation with agenda networks for the aboriginal time, the cards issued by these entities shall ab initio be EMV Chip and PIN compliant.b) Banks shall ensure that all new PPIs issued in the anatomy of cards are EMV Chip and PIN compliant.c) Banks shall ensure that all reissuance / face-lifting of PPIs in the anatomy of cards are EMV Chip and PIN compliant.d) PPI issuers operating alone in Meal articulation shall affair EMV Chip and PIN adjustable cards, if they opt for interoperability. Allowance cards and MTS, may however, be issued with or after EMV Chip and PIN enablement.

5. Requirements for accomplishing interoperability through UPI5.1 PPI issuers shall facilitate all basal / accepted appearance of interoperability of UPI.5.2 PPI issuers shall act as Acquittal Adjustment Providers (PSP) in the UPI. NPCI will affair handle to the PPI issuers as per its action / guidelines demography accident administration aspects into consideration. Since *99# USSD is allotment of UPI, non-bank PPI issuers are additionally accustomed to participate in the same.5.3 PPI holders shall be on-boarded for UPI by their own PPI issuer only. PPI issuers shall alone articulation their chump wallets to the handle issued to them. PPI issuers as PSP shall not on-board barter of any coffer or any added PPI issuer.5.4 Affidavit will be completed by the PPI holder as per his / her absolute wallet credentials. In added words, a transaction will be pre-approved afore it alcove the UPI.5.5 Settlement: For the purposes of settlement, a non-bank PPI issuer shall participate through a sponsor bank. Non-bank PPI issuers shall attach to the requirements of sponsor coffer adjustment in UPI as additionally accommodated all requirements of NPCI in this regard.

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