{"id":2791,"date":"2021-02-27T05:48:50","date_gmt":"2021-02-27T05:48:50","guid":{"rendered":"https:\/\/swaritadvisors.com\/blog\/?p=2791"},"modified":"2021-02-27T05:48:52","modified_gmt":"2021-02-27T05:48:52","slug":"types-of-prepaid-wallet-license","status":"publish","type":"post","link":"https:\/\/swaritadvisors.com\/blog\/types-of-prepaid-wallet-license\/","title":{"rendered":"Types of Prepaid Wallet License: A Guide on Different PPIs"},"content":{"rendered":"\n<p class=\"has-drop-cap\">Since demonetisation, the Reserve Bank of India has\nconstantly been emphasising and making efforts to increase the use of Cashless\nTransactions for any monetary purpose. Further, the financial instruments that\nfacilitate the monetary transactions in digital form are known as Prepaid\nWallets. Only the apex bank has the authority to grant <strong><a href=\"https:\/\/swaritadvisors.com\/prepaid-wallet-license\" class=\"text-primary\">Prepaid\nWallet License<\/a><\/strong>. However, it shall be noted that there are various types\nof prepaid wallet license available, and one needs to be aware of these\ndifferent types of licenses before starting a prepaid wallet license business.<\/p>\n\n\n\n<p>In this blog, we will cover the concept and\ndifferent types of prepaid wallet license.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3a4b2706d3a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3a4b2706d3a\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/swaritadvisors.com\/blog\/types-of-prepaid-wallet-license\/#Concept_of_Prepaid_Wallet_Instruments\" title=\"Concept of Prepaid Wallet Instruments\">Concept of Prepaid Wallet Instruments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/swaritadvisors.com\/blog\/types-of-prepaid-wallet-license\/#Different_Types_of_Prepaid_Wallet_Instruments\" title=\"Different Types of Prepaid Wallet Instruments\">Different Types of Prepaid Wallet Instruments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/swaritadvisors.com\/blog\/types-of-prepaid-wallet-license\/#Benefits_of_Prepaid_Wallet_Instruments\" title=\"Benefits of Prepaid Wallet Instruments\">Benefits of Prepaid Wallet Instruments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/swaritadvisors.com\/blog\/types-of-prepaid-wallet-license\/#Minimum_Requirements_for_Types_of_Prepaid_Wallet_License\" title=\"Minimum Requirements for Types of Prepaid Wallet License\">Minimum Requirements for Types of Prepaid Wallet License<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/swaritadvisors.com\/blog\/types-of-prepaid-wallet-license\/#Approval_from_RBI\" title=\"Approval from RBI\">Approval from RBI<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/swaritadvisors.com\/blog\/types-of-prepaid-wallet-license\/#Capital_Requirement_for_Other_Entity\" title=\"Capital Requirement for Other Entity\">Capital Requirement for Other Entity<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/swaritadvisors.com\/blog\/types-of-prepaid-wallet-license\/#Exemption_for_FEMA_Authorised_Entities\" title=\"Exemption for FEMA Authorised Entities\">Exemption for FEMA Authorised Entities<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/swaritadvisors.com\/blog\/types-of-prepaid-wallet-license\/#Eligibility_Criteria_for_Prepaid_Wallet_License\" title=\"Eligibility Criteria for Prepaid Wallet License\">Eligibility Criteria for Prepaid Wallet License<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/swaritadvisors.com\/blog\/types-of-prepaid-wallet-license\/#Different_Types_of_Prepaid_Wallet_License\" title=\"Different Types of Prepaid Wallet License\">Different Types of Prepaid Wallet License<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/swaritadvisors.com\/blog\/types-of-prepaid-wallet-license\/#Closed_Wallet\" title=\"Closed Wallet\">Closed Wallet<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/swaritadvisors.com\/blog\/types-of-prepaid-wallet-license\/#Semi_Closed_Wallet\" title=\"Semi Closed Wallet\">Semi Closed Wallet<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/swaritadvisors.com\/blog\/types-of-prepaid-wallet-license\/#Semi_Open_Wallet\" title=\"Semi Open Wallet\">Semi Open Wallet<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/swaritadvisors.com\/blog\/types-of-prepaid-wallet-license\/#Open_Wallet\" title=\"Open Wallet\">Open Wallet<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/swaritadvisors.com\/blog\/types-of-prepaid-wallet-license\/#Cross_Border_Transactions\" title=\"Cross Border Transactions\">Cross Border Transactions<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/swaritadvisors.com\/blog\/types-of-prepaid-wallet-license\/#Basic_Documents_for_Different_Types_of_Prepaid_Wallet_License\" title=\"Basic Documents for Different Types of Prepaid Wallet License\">Basic Documents for Different Types of Prepaid Wallet License<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/swaritadvisors.com\/blog\/types-of-prepaid-wallet-license\/#Basic_Guidelines_for_Different_Types_of_Prepaid_Wallet_License\" title=\"Basic Guidelines\nfor Different Types of Prepaid Wallet License\">Basic Guidelines\nfor Different Types of Prepaid Wallet License<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/swaritadvisors.com\/blog\/types-of-prepaid-wallet-license\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Concept_of_Prepaid_Wallet_Instruments\"><\/span>Concept of Prepaid Wallet Instruments<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The term Prepaid Wallet Instruments means the\ninstruments that have some monetary value stored in them and are used for purchasing\ngoods and services and for transferring funds. Further, the term monetary value\nmeans the amount transferred in PPIs by way of cash, credit card, or by\ndebiting the bank account.<\/p>\n\n\n\n<p>It shall be noted that PPIs are a popular and\nconvenient alternative for cash transaction, and the same are known as\nE-wallets as well.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Different_Types_of_Prepaid_Wallet_Instruments\"><\/span>Different Types of Prepaid Wallet Instruments<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The different types if Prepaid Wallet Instruments are as follows:<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/02\/Smart-Cards-1024x390.png\" alt=\"Different Types of Prepaid Wallet Instruments\" class=\"wp-image-2794\" width=\"724\" height=\"275\" srcset=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/02\/Smart-Cards-1024x390.png 1024w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/02\/Smart-Cards-300x114.png 300w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/02\/Smart-Cards-768x293.png 768w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/02\/Smart-Cards.png 1348w\" sizes=\"(max-width: 724px) 100vw, 724px\" \/><\/figure><\/div>\n\n\n\n<ul><li>Smart Cards;<\/li><li>Internet Accounts;<\/li><li>Internet Wallets;<\/li><li>Mobile Accounts;<\/li><li>Magnetic Stripe Cards;<\/li><li>Paper Vouchers;<\/li><li>Any other instrument that can be utilised as PPI;<\/li><\/ul>\n\n\n\n<p><strong>Also, Read:<\/strong> <mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/swaritadvisors.com\/blog\/procedure-for-prepaid-wallet-license-in-india\/\">Procedure for Prepaid Wallet License in India<\/a><\/mark><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Benefits_of_Prepaid_Wallet_Instruments\"><\/span>Benefits of Prepaid Wallet Instruments<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The benefits of Prepaid Wallet Instruments are as\nfollows:<\/p>\n\n\n\n<ul><li>Convenient and\nSafe for making Transactions;<\/li><li>Saves Time;<\/li><li>Facilitates\nOnline Payment of bills, such as Electricity Bill, Mobile Charges, Telephone\nBills;<\/li><li>Provides\nfacility to make Online Transactions from anywhere;<\/li><li>Infuses\nTransparency and Accountability in Transactions;<\/li><li>Aims to make\nIndia Digitally Capable;<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Minimum_Requirements_for_Types_of_Prepaid_Wallet_License\"><\/span>Minimum Requirements for Types of Prepaid Wallet License<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The minimum requirements for Types of Prepaid Wallet\nLicense are as follows:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Approval_from_RBI\"><\/span>Approval from RBI<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>For starting a Prepaid Wallet License, there is no\nneed for any NBFC or scheduled bank to have any amount as minimum capital.\nHowever, it shall be relevant to state that they do need RBI approval on a mandatory\nbasis.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Capital_Requirement_for_Other_Entity\"><\/span>Capital Requirement for Other Entity<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Any entity other than an <strong><a href=\"https:\/\/swaritadvisors.com\/nbfc-registration\" class=\"text-primary\">NBFC<\/a><\/strong> and Scheduled Bank needs to have Rs 5 crores as the minimum capital to obtain a license from RBI.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Exemption_for_FEMA_Authorised_Entities\"><\/span>Exemption for FEMA Authorised Entities<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>All the entities that are registered under the FEMA\n1999, to issue foreign exchange PPIs are exempt from the requirement of minimum\ncapital. However, it shall be noted that PPIs can only be used for a permitted\ncurrent account.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Eligibility_Criteria_for_Prepaid_Wallet_License\"><\/span>Eligibility Criteria for Prepaid Wallet License<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The eligibility criteria for Prepaid Wallet License\nare as follows:<\/p>\n\n\n\n<ul><li>All the banks\nand NBFCs must obtain prior approval from RBI pertaining to the issuance of\nPPIs (Prepaid Payment Instruments);<\/li><li>Any entity other\nthan an NBFC and Scheduled Bank needs to have Rs 15 crores as the positive net\nworth;<\/li><li>All the entities\nneed to file an application with RBI for seeking approval of issuing Prepaid\nPayment Instruments;<\/li><li>In the case of\nan incorporated company, the director need to furnish a certificate concerning\nthe current Net Worth, together with the Provisional Balance Sheet;<\/li><li>A company must\nhave obtained registration under the provisions of the Companies Act 2013 or\nthe Companies Act 1956;<\/li><li>The Object\nClause of the Memorandum of Association must state the intention to operate as\nPPI Issuer; <\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Different_Types_of_Prepaid_Wallet_License\"><\/span>Different Types of Prepaid Wallet License<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The different types of Prepaid Wallet License are as follows:<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/02\/Closed-Wallet-1024x450.png\" alt=\"Different Types of Prepaid Wallet License\" class=\"wp-image-2793\" width=\"601\" height=\"263\" srcset=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/02\/Closed-Wallet-1024x450.png 1024w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/02\/Closed-Wallet-300x132.png 300w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/02\/Closed-Wallet-768x337.png 768w, https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/02\/Closed-Wallet.png 1154w\" sizes=\"(max-width: 601px) 100vw, 601px\" \/><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Closed_Wallet\"><\/span>Closed Wallet<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The term Closed Wallet denotes a PPI that is issued\nby a company to its customers exclusively for the purpose of purchasing goods\nand services. That means this kind of PPI can be used only for the company or\nentity which has issued it.<\/p>\n\n\n\n<p><strong>Example:<\/strong> Reliance Supermarkets, Myntra, Cleartrip, etc.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Semi_Closed_Wallet\"><\/span>Semi Closed Wallet<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Under this type of Prepaid Wallet License, an\nindividual can buy goods and services from a selected group of vendors or\nmerchants who have associated for a common purpose. However, it shall be noted\nthat the facilities of Cash Withdrawal and Redemption are not given to the\nholders of these instruments.<\/p>\n\n\n\n<p><strong>Example:<\/strong> Mobikwik, Paytm, Freecharge, etc.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Semi_Open_Wallet\"><\/span>Semi Open Wallet<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In this type of wallet, instruments can be used for\npurchasing goods and services at any merchant location that accepts cards.\nAlso, in this instrument, holder is not allowed with the facility of Cash\nWithdrawal or Redemption.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Open_Wallet\"><\/span>Open Wallet<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The term Open Wallet denotes a prepaid payment\ninstrument that can be used anywhere by a holder. Also, it provides the\npermission of withdrawing cash from ATMs.<\/p>\n\n\n\n<p><strong>Example:<\/strong> RuPay Card, Master Card, Visa Card, etc.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Cross_Border_Transactions\"><\/span>Cross Border Transactions<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>It shall be pertinent to state that the guidelines\nissued by RBI are not applicable to the individuals who have been allowed to\nissue Foreign Exchange denominated PPIs under the provisions of the FEMA 1999.\nFurther, the limit for Cross Border Transactions is Rs 5000.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Basic_Documents_for_Different_Types_of_Prepaid_Wallet_License\"><\/span>Basic Documents for Different Types of Prepaid Wallet License<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The basic documents required for different types of\nPrepaid Wallet License are as follows:<\/p>\n\n\n\n<ul><li>PAN\nCard of the Applicant;<\/li><li>Address\nProof for the Registered Office;<\/li><li>Certificate\nof Incorporation;<\/li><li>Objects\nof the Company;<\/li><li>Details\nabout Company\u2019s Management;<\/li><li>Details\nabout Statutory Auditors;<\/li><li>Previous\nYear\u2019s Audited Balance Sheet;<\/li><li>Name\nand Address of the Authorised Bank;<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Basic_Guidelines_for_Different_Types_of_Prepaid_Wallet_License\"><\/span><strong>Basic Guidelines\nfor Different Types of Prepaid Wallet License<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Based on the provisions of Prepaid Payment\nInstruments 2017, the basic guidelines for different types of prepaid wallet\nlicense are as follows:<\/p>\n\n\n\n<ul><li>Entities dealing in PPIs can issue both reloadable and non-reloadable instruments under the permissible categories;<\/li><li>Board need to accept all the terms and policies concerning PPIs;<\/li><li>A PPI should bear the name of the issuing company, together with its brand name;<\/li><li>No interest will be calculated on the amount remaining as balance in a payment instrument;<\/li><li>The entities must have obtained permission to reload PPI by cash, credit card, or debit card;<\/li><li>Before using any payment wallet, every customer must conduct the <strong><a href=\"https:\/\/swaritadvisors.com\/due-diligence\" class=\"text-primary\">process of Due Diligence<\/a><\/strong>;<\/li><li>The maximum limit of loading cash in a payment instrument is Rs 50000 per month;<\/li><li>Every PPI issuing entity needs to have a Grievance Redressal Mechanism;<\/li><li>The loading and reloading of cash in a PPI is possible only by way of the Indian National <a href=\"https:\/\/en.wikipedia.org\/wiki\/Indian_rupee\">Rupee Currency<\/a>;<\/li><li>After the issuance of PPI, a customer or his\/ her registered agent will be solely responsible for the cases of omission on their part;<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In a nutshell, Prepaid Wallet Instruments are the instruments that have some monetary value stored in them and the best alternative for cash transactions. Also, these instruments are known as e-wallets as well. Further, there are different types of prepaid wallet license available in the market, and for each one of them the entity needs to satisfy the requirements mentioned above. Also, it shall be noted that the maximum loading cash loading limit in a prepaid payment instruments is Rs 50000 per month and the same can only be done in the Indian National Rupee Currency.<\/p>\n\n\n\n<p><strong>Also, Read:<\/strong> <mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/swaritadvisors.com\/learning\/how-to-start-a-prepaid-wallet-license-business-in-india\/\">How to Start a Prepaid Wallet License Business in India?<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Since demonetisation, the Reserve Bank of India has constantly been emphasising and making efforts to increase the use of Cashless Transactions for any monetary purpose. Further, the financial instruments that facilitate the monetary transactions in digital form are known as Prepaid Wallets. Only the apex bank has the authority to grant Prepaid Wallet License. However, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":2792,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[62,56],"tags":[435],"acf":[],"_links":{"self":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/2791"}],"collection":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/comments?post=2791"}],"version-history":[{"count":3,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/2791\/revisions"}],"predecessor-version":[{"id":2797,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/2791\/revisions\/2797"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/media\/2792"}],"wp:attachment":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/media?parent=2791"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/categories?post=2791"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/tags?post=2791"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}