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Question

Under PPI user can transfer funds from one mobile wallet to another. As RBI is soon to allow inter-operability among PPIs. PPI stands for

A Postpaid Payment Interface Correct Answer Incorrect Answer
B Prepaid Payment Interface Correct Answer Incorrect Answer
C Prepaid Payment Instrument Correct Answer Incorrect Answer
D Postpaid Payment Instrument Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

Prepaid payment instruments  are methods that facilitate purchase of goods and services against the value stored on such instruments. The value stored on such instruments represents the value paid for by the holder, by cash, by debit to a bank account, or by credit card.

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