Mumbai, Maharashtra Apr 6, 2021 (Issuewire.com) - Vishwakarma Payments Pvt Ltd., a consortium led by FSS, Cholamandalam Finance, Zoho, Zerodha, RazorPay, Ujjivan, and Airpay has applied for an NUE license for Retail Payments with RBI.
With aspirations to fuel a less-cash and more-digital micro-payments economy, RBI has set up a framework to authorise pan-India Umbrella Entities that will focus on retail payment systems.
The interoperable infrastructure will cater to banks and non-banks and enable innovative use-cases to solve the diversity, depth, and width of consumers and small businesses in Bharat. The consortium expects to focus on building an agile platform for seamless digital payments of Bharat's scale.
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