RBI's PPI Overhaul Squeezes Fintechs While Boosting Bank-Backed Wallets

Stricter KYC, interoperability mandates and interchange economics in RBI's draft Master Direction favor larger bank-affiliated issuers, threatening standalone wallet viability as UPI dominance shrinks the addressable market.

ndtv-profit-business · 6/28/2026, 10:23:00 AM · Ask about this →