How will users withdraw money from mobile wallets at ATMs?1 min read 09 Apr 2021, 03:18 PM IST
Wallets will issue a prepaid card to their customers, using which they can withdraw money at ATMs and swipe the card at merchant stores
In the latest monetary policy, the Reserve Bank of India (RBI) allowed cash withdrawal and merchant payment from prepaid instruments (PPIs) such as mobile wallets. The banking regulator also permitted them to become part of RBI’s centralized payment systems—RTGS (real-time gross settlement) and NEFT (national electronic funds transfer).
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