New Delhi, India – As India rapidly accelerates toward becoming a cashless economy, digital payment solutions have become a central pillar of financial innovation. Recognizing the rising demand for secure, compliant, and scalable fintech operations, Corpzo.com, a leading regulatory consultancy firm, now offers end-to-end support for obtaining the RBI Prepaid Payment Instrument (PPI) License, commonly referred to as the Prepaid Wallet License. https://www.corpzo.com/payment-wallet-license-or-prepaid-wallet-licence

Issued under the Payment and Settlement Systems Act, 2007 by the Reserve Bank of India (RBI), this license authorizes entities to issue prepaid payment instruments such as wallets, cards, and vouchers that can be used for goods, services, and fund transfers.

What is a Prepaid Wallet License?
A Prepaid Payment Instrument (PPI) License enables non-banking financial institutions and startups to operate semi-closed or closed wallet systems that facilitate transactions without using physical cash. These wallets can be used in mobile apps, e-commerce platforms, utility payments, and digital banking ecosystems.

Entities that hold this license can issue:

Mobile wallets (e.g., phone-based payments)

Gift cards and prepaid cards

Transit cards

Food and meal vouchers in digital form

Types of Prepaid Instruments
Closed System PPIs – usable only with the issuer (e.g., e-commerce store wallets)

Semi-Closed PPIs – accepted at multiple merchants under contracts (e.g., PhonePe, Paytm Wallet)

Open System PPIs – issued only by banks, allow cash withdrawals and full transaction capabilities

RBI Guidelines for PPI License
To apply for a Prepaid Wallet License in India, companies must meet certain RBI conditions, including:

Minimum Paid-up Capital: ₹5 Crores

Positive Net Worth: ₹1 Crore minimum maintained at all times

Technology Infrastructure: Secure, scalable payment platform with KYC and data encryption standards

Business Plan: Clearly defined use cases and risk mitigation strategies

Background Check: Clean promoter history and compliance track record

How Corpzo.com Helps
Navigating RBI’s strict regulatory and documentation framework can be complex. Corpzo.com offers expert-led assistance through:

Eligibility assessment and business structuring

Drafting and compiling all RBI-required documents

Business plan creation, risk analysis, and compliance audit

End-to-end application filing and follow-ups

Post-license compliance advisory and reporting

From startups in fintech to established NBFCs and payment aggregators, Corpzo serves a wide client base aiming to launch digital wallet products legally and efficiently.

License Timeline and Cost
Typically, the license application and approval process takes 4–6 months, depending on RBI’s review. The total cost includes: https://www.corpzo.com/payment-wallet-license-or-prepaid-wallet-licence

RBI application and legal documentation

Technology and cybersecurity infrastructure setup

Corpzo’s professional consultancy fees

Customized packages are available for early-stage startups and large-scale fintech ventures.

Final Word from Corpzo
“We simplify the complexities of RBI licensing and help fintech founders stay focused on innovation,” said a senior consultant at Corpzo.com. “Our job is to turn regulation into an enabler—not an obstacle.”

For inquiries or to start your RBI PPI license journey, visit www.corpzo.com or email [email protected].