BOPAY secures pre-paid instrument (PPI) license from RBI

The global mobile payment solutions company ‘OBOPAY’ has announced that the company has secured a license for Prepaid Payment Instrument (PPI) from the Reserve Bank of India to operate a semi-closed loop wallet in the country. The company would also be using the license to increase business in its B2B (business-to-business) operations by co-branding the prepaid instrument with a partner brand. 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.