Cashfree Payments gains regulatory approval to operate as a PPI provider

Fintech firm Cashfree Payments on Tuesday said it has received regulatory approval to operate as a prepaid payment instrument (PPI) provider, enabling the firm to issue prepaid payment instruments like cards or digital wallets.

The Bengaluru-based company has already received the Payment Aggregator (PA) and Payment Aggregator-Cross Border (PA-CB) licences from the Reserve Bank of India (RBI).