Payment Wallets
Anonymity achieved in all retail CBDC wallet-to-wallet dealings done so far
Around 2,000 transactions recorded in first three days of pilot; aim now is to erase digital trails between wallets
 "Anonymity achieved in all retail CBDC wallet-to-wallet dealings done so far")
Non-banks not allowed to load credit lines on prepaid wallets, cards: RBI
RBI has asked fintech to stop this practice immediately. The change will come into effect on July 1
 "Non-banks not allowed to load credit lines on prepaid wallets, cards: RBI")
Customers in limbo as banks, payments firms, RBI seek to settle 2 issues
Regulating how payment facilitators store customers' card details and auto-renewal of payments puts industry at crossroads.
 "Customers in limbo as banks, payments firms, RBI seek to settle 2 issues")
PhonePe launches auto top-up feature for its wallet
This feature will allow customers of PhonePe to set up a UPI e-mandate once, post which the company will automatically top up their wallet balance when it falls below the minimum below.
 "PhonePe launches auto top-up feature for its wallet")
Payment wallets must improve customer grievance redress mechanisms: Expert
Cumbersome KYC requirements, issues of safety and security of personal information, and no incentive to maintain balance are some key concerns flagged by experts
 "Payment wallets must improve customer grievance redress mechanisms: Expert")
Payment wallets need a new business model
Payment wallets are bleeding as they monetise the transactions of users on their respective platforms
 "Payment wallets need a new business model")
