Mobile payment Current Affairs, GK & News

OBOPAY secures PPI license from Reserve Bank of India (RBI)

OBOPAY, the global mobile payment solutions company, has recently secured a license for Prepaid Payment Instrument (PPI) from the Reserve Bank of India (RBI) to operate a semi-closed loop wallet in India. Using the PPI license, OBOPAY will solve various payment related problems for their partner clients – bringing efficiency and transparency to the payments ..

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Payment Banks

About 40%-50% of India’s 1.25 billion population is eligible to open a bank account, but is still unbanked . In the Union Budget 2014-2015, the finance minister Arun Jaitley announced that RBI will create a framework for licensing small banks and other differentiated banks. The objective of differentiated banks was to serve the niche interests ..

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M-money transfer

The Department of Posts will soon implement a mobile-based money remittance service in various parts of the country. It has selected 4 circles in which the services will be implemented. These are: · Kerala · Bihar · Punjab · Delhi What is m-money transfer? It also called mobile money transfer, which nothing but just another ..

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