As per the guidelines provided under the Payment and Settlement Act, 2005 defined as Prepaid Payment Instruments or PPI, RBI introduced this facility through instruments of payment and facilitates buying of goods and services that include transfer of funds, financial services, and remittances – against the value stored within or on the instrument. For a transparent process and to clear all things, the most vital thing is to pay equal attention to RBI Prepaid Payment instrument audit. RBI has revised all the prepaid payment instruments for clients and the organizations. They had undergone PPI License and conduct a special audit. Such kind of technical audit is helpful for users to deliver all the important updates that are required to increase the security posture.
Keeping these entire things in mind and to preserve all them, the Reserve Bank of India has come up with framework for the Payment Equipment Providers to help users transact their payments on the proper risk-free transaction methods.
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