RBI gives PPI authority to Eroute Technologies
Recently the Reserve Bank of India (RBI) has given authorization to Eroute Technologies to operate as a prepaid payment instrument (PPI) company. RBI issued authorization to Eroute Technologies Private Limited with permanent validity to issue and start operation of semi-closed pre-paid devices in the country.
The company aims to engage around 680 million people by creating user-friendly payment solutions addressing the specific needs of various consumer segments of our society.
About PPI:
PPIs are instruments that facilitate the purchase of goods and services, including financial services, remittances, and money transfers, against the value stored in such devices.
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