Prepaid Payment Instrument (PPI) players in the country such as Paytm, ItzCash, Mobikwik and Citrus will soon meet senior Reserve Bank of India officials to discuss certain concerns over the recently announced guidelines.
According to sources, wallet players are of the view that the guidelines on the stricter and mandatory Know Your Customer (KYC) norms for users of mobile wallets will be a deterrent to the growing wallet industry and that it might also “kill” smaller transactions.