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It seems RBI has choked PPI(Prepaid Payment Instruments) industries. PPIs are grasping for air and going out one by one. Fab money is closing.
- Thread starter cardy
- Start date
- Replies 10
- Views 279
RAMESH BABU N
TF Legend
Only last week, I wrote to all 3 of our PPI cards to close them. Less than 10 rupees balance in each case.
No no bro I am not blaming
I am just telling the situation
There were tons of PPIs, Fintechs, like mashrooms here and there
Now sequrities has been tightened and regulatory requirements have been increased so PPIs and BNPLs are shutting down day by day
Even the neo banks hipe has been gone down the lane
You can see only a few is operational and rest is in hibernation or dead
sunit123
TF Ace
It is not a matter of proud....Overregulation is not good for customer....PPI is killed to create monopoly of max 2 players and support UPI...This is the reason why we lack china in innovation...Innovation is killed at infant stage....
panchabhut
TF Legend
PPI had specific use cases where mobile can not be used or for use by teenagers, elderly and domestic helps without risking the main acct. But it seems the people in power wants to kill it.
Got notification reg fabmoney today. The card was used by my teenage daughter whose school does not allow mobile phone. Now will have to search some other alternative.
Got notification reg fabmoney today. The card was used by my teenage daughter whose school does not allow mobile phone. Now will have to search some other alternative.
Aniket
TF Prestige
Please use remaining balance before that as if they are not supposed to refund if it's going to remain unused. 🤣
Nigalne ka bichar hai kya...
Yes PPI pe restrictions toh laga hai that's why Slice had to discontinue thier previous service and got merged with SFB. Pehle sarein loophole use kar rahe the, ab RBI restrictive and regulatory policy la diya 😅