Framework for Geo-tagging of Payment System Touch Points
On 25th March, 2022, the Reserve Bank of India (RBI) released a framework for geo-tagging of payment system touch points.
Need
- In recent years, the payments ecosystem in India has witnessed rapid developments with a bouquet of payment systems, platforms, products and services available for consumers.
- It is imperative that a robust payment acceptance infrastructure with multiple types of touch points exists across the length and breadth of the country and is available and accessible at all times.
Key Points
- It issues instructions to bank and non-bank payment system operators to maintain and submit to the geographical locations of their ....
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