 "digital, wallet, cashless, transaction, online, digital, payment")
The Centre has released a set of draft guidelines for digital wallet companies as part of its efforts to promote electronic payments while ensuring the security of transactions.
The Ministry of Electronics and Information Technology issued on Wednesday the draft Information Technology (Security of Prepaid Payment Instruments) Rules 2017 for public consultation, and will take suggestions until March 20.
The draft rules underline security parameters that digital wallet companies, such as Paytm, FreeCharge and Mobikwik, will have to follow. They also stipulate standards for data protection and customer grievance redressal.
Every prepaid payment instrument (PPI), or digital wallet, has been asked to develop
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