DIGITAL WALLETS IN INDIA- A BRIEF ASSESSMENT ON POTENTIAL LIABILITIES

Published On: 01/03/2017

Authors:

Anupam Prasad
Niriksha Sanghvi
The Reserve Bank of India ("RBI") has classified digital wallets as "Prepaid Payment Instruments" (hereinafter "PPI" or "Issuer") which refers to payment instruments that facilitate purchase of goods and services, including funds transfer, against the value stored on such instruments.