RBI makes mobile wallets and prepaid cards interoperability mandatory by March 31, 2022
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The Reserve Bank of India has said that prepaid payment instruments like Paytm, MobiKwik and PhonePe have to offer their know-your-customer or KYC compliant users interoperability mandatorily by March 31, 2022. What this essentially means is that a user who has a full KYC compliant payment wallet will be able to send and receive money to and from different mobile wallets.