Nium secures approval for PA, PPI licences from RBI

Mumbai: Nium, the leader in global payments, announces that it has received in principle approval from RBI for two payment licences – the Prepaid Payment Instrument Licence and the Payment Aggregator Licence. These two licences will allow the global payments company to offer and improve upon a variety of financial products inIndia, from prepaid cards to merchant payment acquiring.

The PPI Licence will empower the company to issue prefunded, pre-loaded cards within India. These prepaid cards can be designed for a variety of consumer and business applications, from employee spending to domestic wallets.