Payments banks offer more options
Thursday, 14 December 2017 - 15:37:00
Bipin Preet Singh, the founder of MobiKwik, no longer feels that his company should become a payments bank. He believes the key offerings between the two are now similar after the Reserve Bank of India (RBI) came up with new guidelines for mobile wallets. In future, wallet users will be allowed to transfer money from one wallet to another, making them interoperable like a bank.
FINO PayTech was chosen by UIDAI to demonstrate the tech enabled payment mechanism at the national launch of Aadhaar-based service delivery.