RBI to geo-tag payments system for access to digital transactions

Monday 11 October 2021 12:36 CET | News

Reserve Bank of India (RBI) has announced it will launch a geo-tagging framework to strengthen the payments acceptance infrastructure across India.

The geo-tagging technology will provide location information and can be used in targeting areas that lag behind in payments acceptance infrastructure.

The RBI had also set-up a Payments Infrastructure Development Fund (PIDF) to encourage deployment and strengthening of payments acceptance infrastructure and create additional touchpoints.

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Keywords: Reserve Bank of India, payments infrastructure, product launch, mobile payments
Categories: Payments & Commerce
Countries: India
This article is part of category

Payments & Commerce