The RBI has decided to allow payments from one e-wallet operator to another by facilitating inter-operability within six months.
The central bank, however, has incorporated a rider that the facility will be allowed only for KYC compliant users, which is a small proportion of the overall user base. The RBI is expected to revise its norms for inter-operability by October 11.
The development comes at a time when digital payments in India are moving towards payments platforms like unified payments interface (UPI) where money need not be locked in a wallet. UPI enables transfers directly from a bank account.
