The Reserve Bank of India, in exercise of the powers conferred on it under the Payment and Settlement Systems Act, 2007, has cancelled the Certificate of Authorisation (CoA) of the below mentioned Payment System Operator (PSO) on account of voluntary surrender of authorisation:

Following the cancellation of the CoA, the company cannot transact the business of issuance and operation of Prepaid Payment Instruments. However, customers or merchants having a valid claim on the company as a PSO, can approach the company for settlement of their claims within three years from the date of cancellation i.e. by 30.09.2022.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2019-2020/1755