Payment Wallet License (Prepaid Wallet License) enables its customers to easily purchase things or conduct transactions via a digital platform. Prepaid wallets are online payment tools used to pay for products and services purchased as well as to move money from one bank account to another. Prepaid Wallet License is issued in accordance with the Payment and Settlement System Regulations, 2008. Reserve Bank of India supervises all Prepaid Payment Instruments in India. Prepaid Wallet License, once issued, is valid for one year from the date it was issued to the licensee.
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