Reserve Bank of India (RBI) on Friday permitted banks and non-banking institutions to issue pre-paid instruments for making payments across various public transport systems.
With the introduction of these instruments, commuters will have more options to pay for tickets besides cash mode.
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MobiKwik picks Mohit Narain as COO-Consumer Payments; Harvinder Singh Chadha joins Zaakpay yourstory.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yourstory.com Daily Mail and Mail on Sunday newspapers.
In the backdrop of the crisis brewing at Paytm Payments Bank, major fintech companies are ramping up their workforce and inducting new faces in their leadership teams, industry sources said on Wednesday.
Users will not be able to add funds to their Paytm Payments Bank Wallet after February 29, though they will still be able to use the services and the existing balance in the wallets, according to the Reserve Bank of India (RBI) diktat.
Industry sources said that competitors to Paytm are investing heavily in offline payments while doubling their salesforce.
MobiKwik picks Mohit Narain as COO-Consumer Payments; Harvinder Singh Chadha joins Zaakpay yourstory.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yourstory.com Daily Mail and Mail on Sunday newspapers.