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Introduction of Prepaid Payment Instruments for Mas Transit System

Dated:- 24-7-2015 - Reserve Bank of India (RBI) vide its circular dated 9th July, 2015 introduced a new category of semi-closed Prepaid Payment Instrument (PPI) with the following features: The semi-closed PPIs will be issued by the mass transit syst .....

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qualify as PPI-MTS; Apart from the mass transit system, such PPI-MTS can be used only at other merchants whose activities are allied to or are carried on within the premises of the transit system; The PPI-MTS issuer will ensure on-boarding of merchan .....

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