OBOPAY secures PPI license from Reserve Bank of India (RBI)

OBOPAY, the global mobile payment solutions company, has recently secured a license for Prepaid Payment Instrument (PPI) from the Reserve Bank of India (RBI) to operate a semi-closed loop wallet in India. Using the PPI license, 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. The PPI license can be implemented in a variety of industry segments. The license will enable the customers to do everything a prepaid payment instrument does: P2P, cash-in, bill payments, mobile recharge, and shopping. The headquarters of OBOPAY is located at California, United States.