Cred, MobiKwik Become First Fintech Firms to Offer RBI CBDC Wallets
Cred and MobiKwik launch RBI's E-Rupee wallets sponsored by Yes Bank, with UPI interoperability and planned programmable merchant payments. Limits set at Rs 50,000 daily and Rs 10,000 per transaction, with PIN-less payments under Rs 500—expanding digital rupee rails for retail merchants.
Cred and MobiKwik become first Indian fintech firms to offer RBI CBDC (E-Rupee) e-wallets, sponsored by Yes Bank, with UPI interoperability and planned programmable merchant payments—expanding digital rupee payment rails for retail.
Why this matters
Cred and MobiKwik lead fintech adoption of RBI's E-Rupee, echoing earlier signals of the pair becoming the first fintechs to distribute CBDC wallets and expand digital rupee rails to retail merchants.
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