Google Pay, PhonePe And Others To Join RBI’s Digital Currency Pilot

Google Pay, PhonePe And Others To Join RBI’s Digital Currency Pilot

SUMMARY

Major fintech giants such as GooglePay, PhonePe, Cred, Mobikwik and AmazonPay are now opting to join the Indian central bank's digital currency pilot, as per Reuters’ report.

Sources told the news agency that the companies will be doing this by offering transactions through e-rupee

Initially, only the central bank was allowed to offer e-rupee via their mobile applications. However, RBI in April allowed fintechs to offer e-rupee transactions but only after its approval

Major fintech giants such as Google Pay, PhonePe, Cred, Mobikwik and AmazonPay are now opting to join the Indian central bank’s digital currency pilot, as per Reuters’ report.

Sources told the news agency that the companies will be doing this by offering transactions through e-rupee. 

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