Bajaj Finance is making its debut in the prepaid payment business, with ‘Bajaj Pay’ set to launch
The Corona crisis saw a huge increase in online and digital payments. To match with the market demand, Bajaj Finance strives to expand its digital finance capability by launching ‘Bajaj Pay’. A semi-closed Prepaid Payment Instruments (PPI) is effectively a digital wallet one through which transactions can flow to merchants and establishments.
On this milestone, the company said, “We wish to inform that the RBI vide its letter dated 4 May 2021, has granted an authorization to the Company for issuance and operation of semi-closed Prepaid Payment Instruments with perpetual validity”.
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