What are prepaid payment instruments?

Prepaid payment instruments are methods that facilitate purchase of goods and services against the value stored on such instruments. The value stored on such instruments represents the value paid for by the holder, by cash, by debit to a bank account, or by credit card. read more

Open System Payment Instruments (multipurpose cards): These are payment instruments can be used for purchase of goods and services, including financial services like funds transfer at any card accepting merchant locations (point of sale terminals) and also permit cash withdrawal at ATMs / BCs. read more

Prepaid payment instruments: A new era of regulation Prepaid payment instruments: A new era of regulation The recently-issued revised master direction of RBI on Prepaid Payment Instruments (PPIs) has created ripples in the PPI space. read more