Staying true to its vision of promoting growth in the digital payments industry, the PCI (Payments Council of India) has reportedly on-boarded executives from payments banks and Bharat Bill Payment Operating Units (BBPOU) as members on its platform.
The council is also planning to open its membership to small finance banks, as part of its efforts to foster an inclusive digital payments ecosystem in the country.
Speaking about the development, PCI Executive Director Gaurav Chopra stated, “We have on-boarded Renu Satti from Paytm, Rishi Gupta from Fino Payments Bank and Porush Singh from MasterCard among a few others as our new members in the executive council.”
The PCI is also in the process of instituting multiple committees to address issues that arise within the country’s online payments space. The council has proposed the creation of a committee for payments and small banks. Apart from this, a committee for existing payment networks and a separate one for BBPOUs were also proposed.
Elucidating further, Chopra said, “The new committees will function in tandem with our previous committees on prepaid issuers, merchant acquirers and international remittances.”