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Mobile Wallet Interoperability May Soon Become a Reality
September 26, 2018
According to a report by The Economic Times, the central bank RBI may soon allow mobile wallet interoperability contingent on ₹25 crore capital available with the license holders. An official aware of the development said that the RBI may allow mobile wallet companies to offer interoperability to their customers if their net worth is at least ₹25 crores. This is to ensure that only the top mobile wallet companies enter the space. However, a large number of companies that have prepaid payment instrument licenses don’t qualify for the condition.
Photo credit: NEC Corporation of America on Visualhunt / CC BY
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