OBOPAY has recently secured PPI license from the Reserve Bank of India (RBI). What does “PPI” stands for?

Postpaid Payment Instrument

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Prepaid Payment Instruction

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Postpaid Payment Instruction

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Prepaid Payment Instrument

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None of the above

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Solution

The correct option is D Prepaid Payment Instrument
OBOPAY, the global mobile payment solutions company, has recently secured a license for Prepaid Payment Instrument (PPI) from the Reserve Bank of India (RBI) to operate a semi-closed loop wallet in India. Using the PPI license, OBOPAY will solve various payment related problems for their partner clients – bringing efficiency and transparency to the payments process, improving reporting, and reducing turnaround times for funds transfers.

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2018

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