With this, Idea Cellular becomes the third telco to receive a prepaid payments license in India after Bharti Airtel and Vodafone.
This license is set to enable Idea Cellular to create stored-value cards (physical or digital), which can then be used to purchase products from multiple vendors.
In recent news, India-based mobile payments company Money-on-Mobile, a subsidiary of US-based electronic payment processing services provider Calpian, has received a five year renewal of its authorization from the Reserve Bank of India (RBI) to operate a mobile payments system in the country.
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