PPIs for Public Transport Payments

• 24 Feb 2024

RBI recently permitted banks and non-banking institutions to issue pre-paid instruments (PPIs) for payments in public transport systems.

• RBI grants permission for PPI issuance for payments in public transport.
• Commuters gain alternative payment options beyond cash for tickets.
• PPIs offer convenience, speed, affordability, and safety in digital payments for transit services.
• Notification aims to improve payment accessibility and efficiency in public transport systems.
• Move aligns with India's push towards digitalization and cashless transactions.