Abhishek012
TF Pioneer
Non-banks cannot load credit lines into prepaid payment instruments: RBI to fintechs
The move may impact credit products of fintech players who extend credit through prepaid payment instruments such as prepaid cards and wallets.The notification was addressed to “All Authorised Non-bank Prepaid Payment Instrument (PPI) Issuers.” According to multiple sources, the notification was sent to non-bank PPI issuers, including fintech players.
The immediate impact of this clarification is unclear; however, Slice, Uni, PayU’s LazyPay, KreditBee etc. also extend credit through prepaid co-branded cards. But the key issuers of these cards are banks like SBM Bank India, RBL Bank among others.
Non-banks can't load credit lines into prepaid payment instruments: RBI tells fintechs
The move may impact credit products of fintech players who extend credit through prepaid payment instruments such as prepaid cards and wallets.
