{"id":12324,"date":"2024-08-08T15:38:47","date_gmt":"2024-08-08T10:08:47","guid":{"rendered":"https:\/\/razorpay.com\/learn\/?p=12324"},"modified":"2025-07-30T11:45:02","modified_gmt":"2025-07-30T06:15:02","slug":"prepaid-payment-instruments-ppis","status":"publish","type":"post","link":"https:\/\/razorpay.com\/learn\/prepaid-payment-instruments-ppis\/","title":{"rendered":"What is Prepaid Payment Instruments (PPIs)? Types &#038; List of PPIs Issuer"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69e1ab36a782d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69e1ab36a782d\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/razorpay.com\/learn\/prepaid-payment-instruments-ppis\/#What-are-PPIs\" >What are PPIs?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/razorpay.com\/learn\/prepaid-payment-instruments-ppis\/#Types-of-Prepaid-Payment-Instruments\" >Types of Prepaid Payment Instruments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/razorpay.com\/learn\/prepaid-payment-instruments-ppis\/#What-are-the-Types-Of-Semi-Closed-PPIs\" >What are the Types Of Semi-Closed PPIs?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/razorpay.com\/learn\/prepaid-payment-instruments-ppis\/#Who-Can-Issue-PPIs-Prepaid-Payment-Instruments\" >Who Can Issue PPIs? (Prepaid Payment Instruments)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/razorpay.com\/learn\/prepaid-payment-instruments-ppis\/#Customer-Protection\" >Customer Protection<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/razorpay.com\/learn\/prepaid-payment-instruments-ppis\/#What-Is-the-PPI-Limit\" >What Is the PPI Limit?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/razorpay.com\/learn\/prepaid-payment-instruments-ppis\/#UpdatesNews-On-Prepaid-Payment-Instruments\" >Updates\/News On Prepaid Payment Instruments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/razorpay.com\/learn\/prepaid-payment-instruments-ppis\/#Conclusion\" >Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/razorpay.com\/learn\/prepaid-payment-instruments-ppis\/#Frequently-Asked-Questions\" >Frequently Asked Questions<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What-are-PPIs\"><\/span>What are PPIs?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Prepaid Payment Instruments (PPIs) are payment instruments used to purchase goods and services, including transfer funds, conduct financial transactions, and enable remittances, leveraging the stored value within or on the instrument.<\/p>\n<p><em><strong>Related Read: <a href=\"https:\/\/razorpay.com\/learn\/what-is-advance-payment\/\">What is Advance Payment and How Does It Work With Examples?<\/a><\/strong><\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Types-of-Prepaid-Payment-Instruments\"><\/span><b>Types of Prepaid Payment Instruments<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><b>1. Closed PPIs System<\/b><\/h3>\n<p><a href=\"https:\/\/www.rbi.org.in\/commonperson\/english\/scripts\/FAQs.aspx?Id=2812#:~:text=These%20PPIs%20are,supervised%20by%20RBI.\" target=\"_blank\" rel=\"noopener\">According to the RBI, <\/a>Closed-system PPIs are issued by an entity for purchasing goods and services exclusively from that entity. These instruments are not classified as payment systems by the RBI, and their issuance does not require the RBI&#8217;s prior approval.<\/p>\n<h4><strong>Closed PPIs System <\/strong><strong>Restrictions<\/strong><\/h4>\n<ul>\n<li>Cash withdrawals are not permitted.<\/li>\n<li>These instruments cannot be used for payment or settlement for third party services.<\/li>\n<\/ul>\n<h4>Closed PPIs System Examples<\/h4>\n<p data-sourcepos=\"3:1-3:2\">An examples of closed-system PPIs include gift cards issued by specific retailers, metro rail cards, coupons, paper vouchers, etc. Another example is the concept of &#8220;pay later&#8221; options offered by various e-commerce platforms, where users can purchase specific products or services on credit.<\/p>\n<h3><b>2. Semi Closed PPIs System<\/b><\/h3>\n<p>Semi-closed system PPIs can be used for online transactions at multiple merchants or partners. These PPIs can only be issued by banking institutions approved by the RBI or non-banking institutions authorized by the RBI. The issuance of such PPIs requires prior approval or authorization from the RBI.<\/p>\n<h4><b>Examples of <\/b><b>Semi Closed PPIs System<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">An examples of semi-closed system PPIs in India include <a href=\"https:\/\/razorpay.com\/learn\/mobile-wallet\/\">mobile wallets<\/a> like Paytm, PhonePe and MobiKwik, and<\/span><a href=\"https:\/\/razorpay.com\/payment-gateway\/\"> <span style=\"font-weight: 400;\">payment gateways<\/span><\/a><span style=\"font-weight: 400;\"> such as Razorpay and Instamojo. These PPIs enable seamless transactions across a wide range of merchants, making them a preferred choice for consumers. People must know any associated<\/span> <a href=\"https:\/\/razorpay.com\/pricing\/\"><span style=\"font-weight: 400;\">payment gateway charges<\/span><\/a><span style=\"font-weight: 400;\"> that may apply during these transactions.<\/span><\/p>\n<h3><b>3. Open System PPIs<\/b><\/h3>\n<p>Open System PPIs can only be issued by banking institutions that have been approved by the RBI. These instruments are used to buy goods and services , remittances, cash withdrawals.<\/p>\n<p>These instruments are accepted both online and offline, making them convenient for various purposes. Users can even make purchases internationally.<\/p>\n<p><span style=\"font-weight: 400;\">Open system PPIs offer global accessibility owing to their integration with the Unified Payments Interface (UPI). This allows linking<\/span> prepaid wallets on UPI<span style=\"font-weight: 400;\"> and using them for payments through any UPI-enabled platform.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Whether shopping online or paying at a physical store, open-system PPIs offer a secure and convenient way to complete transactions. They eliminate the need for carrying cash and provide a seamless payment experience.<\/span><\/p>\n<h4>Examples of Open System PPIs<\/h4>\n<p>An examples of PPIs issued under this system are debit cards and credit cards. These are widely accepted across the globe, allowing users to make transactions seamlessly when travelling abroad or purchasing from international merchants.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What-are-the-Types-Of-Semi-Closed-PPIs\"><\/span><b>What are the Types Of Semi-Closed PPIs?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Semi-closed PPIs are a specific category in the digital payment ecosystem. They have restricted usability and are not accepted everywhere.<\/span><\/p>\n<h3><b>1. Small PPIs or Minimum Detail PPIs<\/b><\/h3>\n<p>Minimum detail PIPs will be issued by bank and non-bank PPI issuers after obtaining minimum customer details such as an OTP-verified mobile number, a self-declaration of the customer&#8217;s name, and a unique identity number based on a mandatory or officially valid document as specified in the RBI&#8217;s KYC Direction, 2016.<\/p>\n<p>These PPIs can be used for purchase of goods and services, funds transfer or cash withdrawal from this PPIs is not permitted.<\/p>\n<h4>Types of Small PPIs<\/h4>\n<p>There are two types of small PPIs<\/p>\n<ul>\n<li>PPIs up to \u20b910,000 with cash loading: These PPIs must be converted to full KYC PPIs within 24 months.<\/li>\n<li>PPIs up to \u20b910,000 with no cash loading<\/li>\n<\/ul>\n<h3><b>2. Loading only from a bank account:<\/b><\/h3>\n<p>Under this PPI, money can only be loaded via the bank account and not through cash or other methods. The maximum loadable amount is Rs. 10,000.<\/p>\n<h3><b>3. Full-KYC PPIs<\/b><\/h3>\n<p>The PPIs are issued by banks and non-banks after completing Know Your Customer (KYC) verification of the PPI holder. These PPIs can be used for purchasing goods and services, transferring funds, or withdrawing cash.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Who-Can-Issue-PPIs-Prepaid-Payment-Instruments\"><\/span><b>Who Can Issue PPIs? (Prepaid Payment Instruments)<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Entities authorised to issue prepaid payment instruments in India include banks, non-banking financial companies (NBFCs), payment system operators and entities approved by the Reserve Bank of India (RBI).\u00a0<\/span><\/p>\n<h4>List of RBI Approved Bank PPI Issuer<\/h4>\n<p><a href=\"https:\/\/www.rbi.org.in\/Scripts\/bs_viewcontent.aspx?Id=2491\" target=\"_blank\" rel=\"noopener\">As per RBI<\/a> from February 15, 2024, here&#8217;s a list of banks authorized to issue Prepaid Payment Instruments in India.<\/p>\n<table>\n<tbody>\n<tr>\n<td>\n<h3><b>S. No.<\/b><\/h3>\n<\/td>\n<td>\n<h3><b>Name of the Banks<\/b><\/h3>\n<\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">1<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Airtel Payments Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2<\/span><\/td>\n<td><span style=\"font-weight: 400;\">American Express Banking Corporation<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">3<\/span><\/td>\n<td><span style=\"font-weight: 400;\">A. P. Mahesh Co-operative Urban Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">4<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Au Small Finance Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">5<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Axis Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">6<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Bandhan Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">7<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Bank of Baroda<\/span><span style=\"font-weight: 400;\">\u00b5<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">8<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Bank of India<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">9<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Bank of Maharashtra<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">10<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Barclays Bank PLC<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">11<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Canara Bank<\/span><span style=\"font-weight: 400;\">\u2126<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">12<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Central Bank of India<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">13<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Citi Bank N.A.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">14<\/span><\/td>\n<td><span style=\"font-weight: 400;\">City Union Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">15<\/span><\/td>\n<td><span style=\"font-weight: 400;\">DBS Bank India Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">16<\/span><\/td>\n<td><span style=\"font-weight: 400;\">DCB Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">17<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Equitas Small Finance Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">18<\/span><\/td>\n<td><span style=\"font-weight: 400;\">ESAF Small Finance Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">19<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Fincare Small Finance Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">20<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Fino Payments Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">21<\/span><\/td>\n<td><span style=\"font-weight: 400;\">First Rand Bank<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">22<\/span><\/td>\n<td><span style=\"font-weight: 400;\">HDFC Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">23<\/span><\/td>\n<td><span style=\"font-weight: 400;\">ICICI Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">24<\/span><\/td>\n<td><span style=\"font-weight: 400;\">IDBI Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">25<\/span><\/td>\n<td><span style=\"font-weight: 400;\">IDFC FIRST Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">26<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Indian Bank<\/span><span style=\"font-weight: 400;\">\u213c<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">27<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Indian Overseas Bank<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">28<\/span><\/td>\n<td><span style=\"font-weight: 400;\">IndusInd Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">29<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Jana Small Finance Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">30<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Jio Payments Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">31<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Karnataka Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">32<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Karur Vysya Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">33<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Kerala Gramin Bank<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">34<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Kotak Mahindra Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">35<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Lakshmi Vilas Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">36<\/span><\/td>\n<td><span style=\"font-weight: 400;\">NSDL Payments Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">37<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Paytm Payments Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">38<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Pragathi Krishna Gramin Bank<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">39<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Punjab National Bank<\/span><span style=\"font-weight: 400;\">\u03b1<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">40<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Punjab &amp; Sind Bank<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">41<\/span><\/td>\n<td><span style=\"font-weight: 400;\">SBM BANK (INDIA) LTD.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">42<\/span><\/td>\n<td><span style=\"font-weight: 400;\">South Indian Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">43<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Standard Chartered Bank<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">44<\/span><\/td>\n<td><span style=\"font-weight: 400;\">State Bank of India<\/span><span style=\"font-weight: 400;\">@<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">45<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Tamilnad Mercantile Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">46<\/span><\/td>\n<td><span style=\"font-weight: 400;\">The Ahmedabad Mercantile Co-operative Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">47<\/span><\/td>\n<td><span style=\"font-weight: 400;\">The Catholic Syrian Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">48<\/span><\/td>\n<td><span style=\"font-weight: 400;\">The Dhanlaxmi Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">49<\/span><\/td>\n<td><span style=\"font-weight: 400;\">The Federal Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">50<\/span><\/td>\n<td><span style=\"font-weight: 400;\">The Gujarat State Co-operative Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">51<\/span><\/td>\n<td><span style=\"font-weight: 400;\">The New India Co-operative Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">52<\/span><\/td>\n<td><span style=\"font-weight: 400;\">The Rajasthan State Co-operative Bank Ltd.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">53<\/span><\/td>\n<td><span style=\"font-weight: 400;\">TJSB Sahakari Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">54<\/span><\/td>\n<td><span style=\"font-weight: 400;\">RBL Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">55<\/span><\/td>\n<td><span style=\"font-weight: 400;\">The Saraswat Co-operative Bank Limited<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">56<\/span><\/td>\n<td><span style=\"font-weight: 400;\">UCO Bank<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">57<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Union Bank of India<\/span><span style=\"font-weight: 400;\">\u03b2<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">58<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Utkarsh Small Finance Bank Limited (Only for FASTag issuance facility)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">59<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Yes Bank Limited<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h4>List of RBI Approved Non Bank PPI Issuer<\/h4>\n<p><a href=\"https:\/\/www.rbi.org.in\/Scripts\/PublicationsView.aspx?id=12043\" target=\"_blank\" rel=\"noopener\">As per RBI<\/a>, here&#8217;s a list of non-bank entities authorized to issue Prepaid Payment Instruments in India.<\/p>\n<table>\n<tbody>\n<tr>\n<td>\n<h3><b>Sr. No.<\/b><\/h3>\n<\/td>\n<td>\n<h3><b>Name of the Approved\/ Authorised Entity<\/b><\/h3>\n<\/td>\n<td>\n<h3><b>Date of issue of Approval\/ Authorisation &amp; Validity Period <\/b><b>(given in brackets)<\/b><\/h3>\n<\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">1<\/span><\/td>\n<td><span style=\"font-weight: 400;\">The Clearing Corporation of India Ltd.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.02.2009<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2<\/span><\/td>\n<td><span style=\"font-weight: 400;\">AMC Repo Clearing Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">28.02.2023<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">3<\/span><\/td>\n<td><span style=\"font-weight: 400;\"><a href=\"https:\/\/razorpay.com\/learn\/national-payments-corporation-of-india-services\/\">National Payments Corporation of India (NPCI)<\/a>*<\/span><\/td>\n<td><span style=\"font-weight: 400;\">All approvals related to international activities given to NPCI have been transferred to NPCI International Payments Limited (NIPL), a wholly owned subsidiary of NPCI, with effect from August 10, 2020<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">4<\/span><\/td>\n<td><span style=\"font-weight: 400;\">NPCI Bharat BillPay Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">26.07.2017<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">5<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Infibeam Avenues Limited (formerly Avenues India Private Limited)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.10.2017<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">6<\/span><\/td>\n<td><span style=\"font-weight: 400;\">CSC e \u2013 Governance Services India Ltd<\/span><\/td>\n<td><span style=\"font-weight: 400;\">21.09.2017<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">7<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Euronet Services India Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">05.09.2017<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">8<\/span><\/td>\n<td><span style=\"font-weight: 400;\">IndiaIdeas.com Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">02.08.2017 <\/span><span style=\"font-weight: 400;\">(Valid up to 30.09.2024)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">9<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Ebix Payment Services Private Limited <\/span><span style=\"font-weight: 400;\">(formerly Itz Cash Card Limited)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">28.08.2017 <\/span><span style=\"font-weight: 400;\">(Valid up to 30.09.2024)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">10<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Spice Money Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">22.08.2017<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">11<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Worldline ePayments India Private Limited (formerly Ingenico ePayments India Private Limited and TechProcess Payment Services Limited)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.08.2017<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">12<\/span><\/td>\n<td><span style=\"font-weight: 400;\">One Mobikwik Systems Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">24.01.2019 <\/span><span style=\"font-weight: 400;\">(Valid up to 31.03.2025)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">13<\/span><\/td>\n<td><span style=\"font-weight: 400;\">PayU Payments Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.06.2022<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">14<\/span><\/td>\n<td><span style=\"font-weight: 400;\">PhonePe Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">03.03.2022<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">15<\/span><\/td>\n<td><span style=\"font-weight: 400;\">American Express Banking Corp., USA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">31.03.2009<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">16<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Diners Club International Ltd., USA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">30.06.2010<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">17<\/span><\/td>\n<td><span style=\"font-weight: 400;\">MasterCard Asia\/ Pacific Pte. Ltd., Singapore (Earlier MasterCard International Incorporated, USA was performing this activity)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">01.12.2014<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">18<\/span><\/td>\n<td><span style=\"font-weight: 400;\">National Payments Corporation of India<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.07.2012<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">19<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Visa Worldwide Pte. Limited, Singapore (Earlier Visa International Service Association, USA was performing this activity)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">01.04.2010<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">20<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Bahrain Financing Company, BSC (C)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">30.09.2009<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">21<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Continental Exchange Solutions Inc, USA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">28.04.2014 <\/span><span style=\"font-weight: 400;\">(Valid upto 31.03.2025)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">22<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Mastercard Transaction Services (Canada) Inc.(formerly Transfast Inc., Canada and Global Foreign Exchange Inc.)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">30.09.2009 <\/span><span style=\"font-weight: 400;\">(Valid upto 30.09.2024)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">23<\/span><\/td>\n<td><span style=\"font-weight: 400;\">MoneyGram Payment Systems Inc, USA.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.05.2009 <\/span><span style=\"font-weight: 400;\">(Valid upto 31.05.2025)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">24<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Muthoot Finserve USA Inc. {formerly Royal Exchange (USA) Inc.}<\/span><\/td>\n<td><span style=\"font-weight: 400;\">30.09.2009<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">25<\/span><\/td>\n<td><span style=\"font-weight: 400;\">UAE Exchange Centre LLC, UAE<\/span><\/td>\n<td><span style=\"font-weight: 400;\">30.09.2009<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">26<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Wall Street Exchange Centre LLC, UAE<\/span><\/td>\n<td><span style=\"font-weight: 400;\">30.09.2009<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">27<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Western Union Financial Services Incorporated, USA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">31.03.2009<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">28<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Bank of India<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.08.2009<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">29<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Euronet Services India Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.05.2009<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">30<\/span><\/td>\n<td><span style=\"font-weight: 400;\">National Payments Corporation of India<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.10.2009<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">31<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Punjab National Bank<\/span><\/td>\n<td><span style=\"font-weight: 400;\">05.04.2010<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">32<\/span><\/td>\n<td><span style=\"font-weight: 400;\">State Bank of India<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.08.2009<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">33<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Amazon Pay (India) Private Limited <\/span><span style=\"font-weight: 400;\">(formerly Amazon Online Distribution Services Private Limited)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">22.03.2017<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">34<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Amica Payment Services Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.06.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">35<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Appnit Technologies Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">22.03.2017 <\/span><span style=\"font-weight: 400;\">(Valid Upto 31.03.2025)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">36<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Bajaj Finance Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">04.05.2021<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">37<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Balancehero India Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.07.2017<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">38<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Delhi Metro Rail Corporation Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.02.2017<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">39<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Dreampurse Technologies Private Limited <\/span><span style=\"font-weight: 400;\">(Formerly Hip Bar Private Limited)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">22.08.2016<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">40<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Ebix Payment Services Private Limited <\/span><span style=\"font-weight: 400;\">(formerly Itz Cash Card Private Limited)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.08.2009 <\/span><span style=\"font-weight: 400;\">(Valid upto 30.11.2025)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">41<\/span><\/td>\n<td><span style=\"font-weight: 400;\">I Money Pay Private Limited (formerly E-Meditek Global Private Limited)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">07.10.2016 <\/span><span style=\"font-weight: 400;\">(Valid upto 31.12.2024)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">42<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Eroute Technologies Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.05.2021<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">43<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Euronet Services India Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">03.08.2021<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">44<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Garagepreneurs Internet Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">30.08.2023<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">45<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Hindon Mercantile Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.10.2023<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">46<\/span><\/td>\n<td><span style=\"font-weight: 400;\">iDisha Info Labs Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.06.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">47<\/span><\/td>\n<td><span style=\"font-weight: 400;\">India Transact Services Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">30.05.2014<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">48<\/span><\/td>\n<td><span style=\"font-weight: 400;\">LivQuik Technology (India) Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">08.08.2016 <\/span><span style=\"font-weight: 400;\">(Valid upto 30.09.2024)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">49<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Manappuram Finance Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">08.02.2017 <\/span><span style=\"font-weight: 400;\">(Valid upto 31.03.2025)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">50<\/span><\/td>\n<td><span style=\"font-weight: 400;\">MobilePe Fintech Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">08.06.2023<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">51<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Mpurse Services Pvt. Ltd.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">30.06.2014 <\/span><span style=\"font-weight: 400;\">(Valid upto 30.06.2025)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">52<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Nucleus Software Exports Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">22.03.2017 <\/span><span style=\"font-weight: 400;\">(Valid upto 31.03.2025)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">53<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Obopay Mobile Technology India Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.10.2017<\/span><span style=\"font-weight: 400;\">(Valid up to 31.12.2024)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">54<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Ola Financial Services Pvt. Ltd. <\/span><span style=\"font-weight: 400;\">(formerly ZipCash Card Services Private Limited)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">29.10.2009<\/span><\/p>\n<p><span style=\"font-weight: 400;\">(Valid upto 31.10.2024)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">55<\/span><\/td>\n<td><span style=\"font-weight: 400;\">One Mobikwik Systems Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.07.2013<\/span><\/p>\n<p><span style=\"font-weight: 400;\">(Valid upto 30.09.2024)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">56<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Paul Merchants Finance Private Limited (formerly Paul Fincap Pvt. Ltd.)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">04.06.2015<\/span><\/p>\n<p><span style=\"font-weight: 400;\">(Valid upto 30.06.2025)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">57<\/span><\/td>\n<td><span style=\"font-weight: 400;\">PayU Payments Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.07.2016<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">58<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Pay Point India Network Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">03.04.2012<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">59<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Phonepe Private Limited (formerly FX Mart Pvt. Ltd.)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.08.2014<\/span><\/p>\n<p><span style=\"font-weight: 400;\">(Valid upto 31.08.2024)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">60<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Pine Labs Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.03.2017<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">61<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Pluxee India Private Limited (formerly Sodexo SVC India Pvt. Ltd.,)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.08.2009<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">62<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Premium eBusiness Ventures Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.12.2014<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">63<\/span><\/td>\n<td><span style=\"font-weight: 400;\">RapiPay Fintech Private Limited <\/span><span style=\"font-weight: 400;\">(formerly Virgosoft IT Services Private Limited)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">27.02.2017 <\/span><span style=\"font-weight: 400;\">(Valid upto 31.03.2025)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">64<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Razorpay Technologies Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.10.2021<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">65<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Smart Payment Solutions Pvt. Ltd.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">30.06.2010<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">66<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Spice Money Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">09.04.2015 <\/span><span style=\"font-weight: 400;\">(Valid up to 30.06.2025)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">67<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Tata Payments Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">09.07.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">68<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Transaction Analysts (India) Private Ltd.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">07.03.2014<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">69<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Transcorp International Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">26.08.2016<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">70<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Transerv Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">22.02.2016<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">71<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Tri O Tech Solutions Private Ltd.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.01.2017<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">72<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Unimoni Financial Services Limited (formerly UAE Exchange &amp; Financial Services Ltd.)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">29.10.2009 <\/span><span style=\"font-weight: 400;\">(Valid upto 31.10.2024)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">73<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Uniorbit Payment Solutions Private Limited (formerly Weizmann Impex Service Enterprise Limited)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.12.2015<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">74<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1Pay Mobileware Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">14.05.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">75<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Adyen India Technology Services Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.07.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">76<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Amazon Pay (India) Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.02.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">77<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Aurionpro Payment Solutions Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.06.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">78<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Boku Network Services IN Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">05.04.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">79<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Cashfree Payments India Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">19.12.2023<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">80<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Computer Age Management Services Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.04.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">81<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Concerto Software and Systems Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.03.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">82<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Decfin Tech Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">06.02.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">83<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Digiotech Solutions Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">01.01.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">84<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Finacus Solutions Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">19.03.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">85<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Finlogic Technologies India Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">05.08.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">86<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Google India Digital Services Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">19.12.2023<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">87<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Groww Pay Services Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">29.04.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">88<\/span><\/td>\n<td><span style=\"font-weight: 400;\">GVP Infotech Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">29.01.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">89<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Hitachi Payment Services Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.06.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">90<\/span><\/td>\n<td><span style=\"font-weight: 400;\">IndiaIdeas.com Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">31.05.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">91<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Infibeam Avenues Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">04.03.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">92<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Innoviti Technologies Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">22.03.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">93<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Juspay Technologies Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">06.02.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">94<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Mswipe Technologies Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">16.02.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">95<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Nehat Tech Solutions Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">19.12.2023<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">96<\/span><\/td>\n<td><span style=\"font-weight: 400;\">NSDL Database Management Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">22.05.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">97<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Open Financial Technolgies Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">19.12.2023<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">98<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Payment Gateway Solutions Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">19.12.2023<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">99<\/span><\/td>\n<td><span style=\"font-weight: 400;\">R360 Payment Services Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">19.12.2023<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">100<\/span><\/td>\n<td><i><span style=\"font-weight: 400;\">Razorpay Software Limited (formerly known as Razorpay Software Private Limited)<\/span><\/i><\/td>\n<td><span style=\"font-weight: 400;\">19.12.2023<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">101<\/span><\/td>\n<td><span style=\"font-weight: 400;\">SRS Live Technologies Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.06.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">102<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Stripe India Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">15.01.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">103<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Tata Payments Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">01.01.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">104<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Toucan Payments (India) Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">27.02.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">105<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Transaction Analysts (India) Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">18.06.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">106<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Unlimint IN Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">23.04.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">107<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Worldline ePayments India Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">30.04.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">108<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Zoho Payment Technologies Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">02.02.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">109<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Adyen India Technology Services Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.07.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">110<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Amazon Pay (India) Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.07.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">111<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Cashfree Payments India Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">22.07.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">112<\/span><\/td>\n<td><span style=\"font-weight: 400;\">IndiaIdeas.com Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">29.07.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">113<\/span><\/td>\n<td><span style=\"font-weight: 400;\">India1 Payments Limited (formerly BTI Payments Pvt. Ltd.)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">12.02.2014<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">114<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Hitachi Payment Services Pvt. Ltd.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">25.11.2013<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">115<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Tata Communications Payment Solutions Ltd.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">03.05.2013<\/span><\/p>\n<p><span style=\"font-weight: 400;\">(Valid upto 30.06.2025)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">116<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Vakrangee Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">23.01.2014 <\/span><span style=\"font-weight: 400;\">(Valid upto 31.03.2025)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">117<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Boson Systems Private Limited (formerly Empays Payment Systems India Pvt. Ltd.)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.11.2014 <\/span><span style=\"font-weight: 400;\">(Valid upto 15.11.2024)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">118<\/span><\/td>\n<td><span style=\"font-weight: 400;\">A.TREDS Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">29.06.2017<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">119<\/span><\/td>\n<td><span style=\"font-weight: 400;\">C2FO Factoring Solutions Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">04.03.2024<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">120<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Mynd Solutions Private Limited<\/span><\/td>\n<td><span style=\"font-weight: 400;\">20.03.2017<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">121<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Receivables Exchange of India Limited (RXIL)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">17.05.2017<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"Customer-Protection\"><\/span><b>Customer Protection<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Customer protection is of utmost importance when it comes to PPIs. Regulatory measures such as data encryption, multi-factor authentication and compliance with industry standards like PCI-DSS, as well as security protocols involving firewalls, intrusion detection systems, and regular security audits are implemented to ensure secure transactions and protect customer data. PPI issuers also adopt various customer protection practices such as two-factor authentication, encryption technologies and fraud detection systems. These measures aim to provide a secure and trustworthy experience.\u00a0<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What-Is-the-PPI-Limit\"><\/span><b>What Is the PPI Limit?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The PPIs limit is \u20b950,000 per month, subject to the PPI&#8217;s overall limit (not permitted for one type of Small PPI). The limit for loading PPIs via electronic or online means is subject to the PPI&#8217;s overall limit.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"UpdatesNews-On-Prepaid-Payment-Instruments\"><\/span><b>Updates\/News On Prepaid Payment Instruments<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">India&#8217;s prepaid payment instrument landscape is constantly evolving with various updates and developments. Recent news includes regulatory changes to enhance security and customer protection, such as mandatory KYC requirements for specific PPIs. Some innovations in the PPI landscape include new features like the introduction of virtual prepaid cards, prepaid wallets on UPI, Pay Later options, and integration with technologies, such as contactless payments.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In February, the RBI announced that authorised bank and non-bank PPI issuers can now issue PPIs for digital payments across public transport systems, aiming to enhance convenience, speed, affordability, and safety. Additionally, RBI barred Paytm <a href=\"https:\/\/razorpay.com\/learn\/what-is-payment-bank\/\">Payment Bank<\/a> Ltd from accepting deposits, salary credits, subsidies, credit transactions, or top-ups in any customer accounts, wallets, or FASTags after March 15, 2024.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Staying informed about these updates is crucial for users, businesses and other stakeholders to make the most of these digital payment solutions.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><b>Conclusion<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Now, you must have learned about the <\/span>meaning of prepaid payment instruments<span style=\"font-weight: 400;\">, types and updates in detail<\/span><b>. <\/b><span style=\"font-weight: 400;\">PPIs play a vital role in the modern digital economy. They offer convenience and accessibility, making transactions easier and faster. PPIs have witnessed evolving trends due to technological advancements and changing consumer behaviours. As new technologies emerge, PPIs are likely to expand even further, revolutionising how we make digital payments.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Frequently-Asked-Questions\"><\/span><b>Frequently Asked Questions<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><b>1. What are prepaid payment instruments examples?<\/b><\/h3>\n<p>Prepaid payment instruments in India<span style=\"font-weight: 400;\"> include mobile wallets, digital wallets, gift cards and travel cards. Examples include Paytm, PhonePe, and Amazon Pay.<\/span><\/p>\n<h3><b>2. What is the difference between UPI and PPI?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">PPIs are digital wallets, cards or other tools used to make electronic transactions. UPI is a specific type of PPI that allows instant money transfers between bank accounts.<\/span><\/p>\n<h3><b>3. Is a credit card a prepaid instrument?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">A credit card is not considered a prepaid instrument. Prepaid instruments include digital wallets, gift cards and mobile wallets, loaded with funds in advance. Whereas, the credit card allows the user to borrow the amount from the issuer up to the pre-approved limit.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What are PPIs? Prepaid Payment Instruments (PPIs) are payment instruments used to purchase goods and services, including transfer funds, conduct financial transactions, and enable remittances, leveraging the stored value within or on the instrument. Related Read: What is Advance Payment and How Does It Work With Examples? Types of Prepaid Payment Instruments 1. Closed PPIs<\/p>\n","protected":false},"author":151156618,"featured_media":13637,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1387],"tags":[],"class_list":{"0":"post-12324","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-payments"},"_links":{"self":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/posts\/12324","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/users\/151156618"}],"replies":[{"embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/comments?post=12324"}],"version-history":[{"count":11,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/posts\/12324\/revisions"}],"predecessor-version":[{"id":18142,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/posts\/12324\/revisions\/18142"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/media\/13637"}],"wp:attachment":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/media?parent=12324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/categories?post=12324"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/tags?post=12324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}