Government new rules for mWallet and Smart Cards

GOVERNMENT NEW RULES FOR MWALLET AND SMART CARDS

Government new rules for mWallet and Smart Cards

With the government promoting cashless economy and boost being given to various digital payment systems, a need is felt to develop a framework for security of various PPIs operating in the country. 

Every e-PPI issuer shall have in place and publish on its website and mobile applications the privacy policy and the terms and conditions for use of the payment systems operated by it in simple language, capable of being understood by a reasonable person. 

The Grievance Officer shall act within 36 hours and shall resolve the complaint within one month from the date of receipt of such complaint.




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