Prepaid Wallet License India | Money Wallet License In India

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Registrationwala

• Prepaid Wallet License Guide

START A PREPAID WALLET BUSINESS
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Steps To Follow
Prepaid
Wallet License Process
Provide the documents Application filing
Application Assessment Get Prepaid wallet
License
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Prepaid Wallet
License
As per the provision of the Payment and
Settlement Systems Act, 2007, those wishing to
start a Payment Wallet in India must obtain the
Certificate of Authorization from the Reserve
Bank of India. This authorization is called the
Payment Wallet License.
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ELIGIBILITY REQUIREMENTS TO GET PREPAID WALLET
LICENSE
For banks and Non-banking financial
institutions There is no minimum capital
requirement for banks and NBFCs. However, RBI
approval is still required before the use of
PPIs. For Non-NBFC The non- NBFCs or other
entities should have the net worth of at least
INR 5 Crore to apply for prepaid wallet
license. Entities authorized by FEMA There are
no minimum capital restrictions on FEMA
authorized entities. However, they can only
implement PPIs for a limited number of current
accounts.
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DOCUMENTS REQUIRED FOR PREPAID WALLET LICENSE IN
INDIA
ID proof of the applicant Address proof of the
registered office Certificate of
incorporation Memorandum of Association A
document detailing information about the
management Details pertaining to the statutory
auditors Audited balance sheet Name of the
bankers of the company Address of the bankers of
the company.
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Our assistance in getting you the prepaid wallet
license in India
Registrationwala
We provide end to end assistance in getting
prepaid wallet license. Application filing
Document drafting Department follow up
Thus, if you want to start a business of
starting your own digital payment wallet, reach
out to registrationwala.
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Contact Us
We'd love to talk
PHONE NUMBER 919810602899
EMAIL ADDRESS support_at_registrationwala.com
WEBSITE www.registrationwala.com