News in brief

Indian mobile wallet users could soon be able to transfer money directly to each other, regardless of the service they use, if the Reserve Bank of India (RBI) goes ahead with plans to open up the Unified Payment Interface (UPI) platform to mobile wallet providers. “RBI is expected to issue guidelines shortly on interoperability and know your customer (KYC) norms for digital wallet companies,” sources told Economic Times. “RBI will also decide on the interchange fees between the wallets for them to be able to access the UPI framework.”

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