The Indian Wire » Business » RBI to allow money transfer between mobile wallets

RBI to allow money transfer between mobile wallets

Reserve Bank of India

Reserve Bank of India (RBI) is set to grants inter-wallet money transfer. Mobile wallet market chanced to boost.

Now you can transfer money between your mobile wallets hassle free. RBI to introduce new guidelines for it in coming future. This move will easily permit you to not only stick to one wallet but use other simultaneously.

Wallet companies like Paytm, Mobikwik, freecharge welcoming the move saying that this will intend to benefit user. Though there is insecurity of user dip.

The government agency National Payments Corporation of India (NPCI) has granted a portfolio about the project. NPCI also checked certain parameters about security and privacy of such transfer.

The project team claims to be in the last phase of platform development and can be made public very soon.

There are also few concerns about charge alongside for such transactions and data security.

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