The move will enable transfer of funds seamlessly between various mobile wallets.
Reserve Bank of India (RBI) has issued guidelines to allow interoperability for mobile wallets. It will allow mobile wallets to issue debit and credit cards in partnership with Mastercard and Visa.
The move will enable transfer of funds seamlessly between various mobile wallets. It will boost companies and create a level-playing field between mobile wallets that operate without payment bank licences and payments banks.Gaurav Choudhury, Deputy Executive Editor, Moneycontrol tells Sakshi Batra how this could alter the digital payments industry and what it means for consumers.