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Date: 15/11/2018
Cancellation of Certificate of Authorisation – MMP Mobi Wallet Payment Systems Ltd

The Reserve Bank of India, in exercise of the powers conferred on it under Payment and Settlement Systems Act, 2007, has cancelled the Certificate of Authorisation (COA) of the following Payment System Operator (PSO) on account of voluntary surrender of authorisation by the company.

Company's Name Registered Office address COA No. & Date Payment system authorised Date of cancellation
MMP Mobi Wallet Payment Systems Ltd. A, E & F Blocks, Voltas Premises
T.B.Kadam Marg, Chinchpokli
Mumbai – 400 033.
47/2011
30.12.2011
Prepaid card Issuance 14.11.2018

Following the cancellation of the COA, the above company cannot transact the business of prepaid card issuance. However, customers or merchants having a valid claim, if any, on MMP Mobi Wallet Payment Systems Ltd. as a PSO, can approach the company for settlement of their respective claims within two years from the date of this cancellation i.e. upto 13.11.2020.

Ajit Prasad
Assistant Adviser

Press Release : 2018-2019/1137

 
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