Soon, you can transfer money from Paytm to other wallets, but there’s a condition

Paytm to other wallets

Mobile Wallet companies, eagerly awaiting the Reserve Bank’s final guidelines on Wallet Interoperability, start their case sooner in the case of interactivity between their Wallet, bank account and the ability to issue interactive prepaid cards.

In a circular issued on Tuesday, the central bank issued the integrated guidelines to prepare all the steps better for interactivity.

The Reserve Bank of India clarified that all types of Wallet Interoperability will be through interoperable card network through integrated payment interface and card. In order to ensure the safety of all such transactions, RBI has made it mandatory for the PPI issuers to follow all the security guidelines set by the card network for the National Payment Corporation of India and the Merchant Onboarding for the UPA. However, interoperability will only be made available for full KYC pocket.

“This will start issuing payment instruments to players from card network (Rupe / Visa / MC), which will be accepted in both POS Terminal or through India QR code in both physical trading locations and traders will be allowed to do the separate ship There is no need to keep.

Sunil Kulkarni, Joint Managing Director of Oxygen Services said, “Through BHIM UPI, there will be a free two-way flow between Wallet and bank accounts.”

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