The Reserve Bank of India, in exercise of the powers conferred on it under the Payment and Settlement Systems Act, 2007, has cancelled the Certificate of Authorisation (CoA) of the below mentioned Payment System Operators (PSOs): | Sr. No. | Company's Name | Registered Office Address | CoA No. & Date | Payment System Authorised | Date of Cancellation | Reason for Cancellation | | 1. | Pyro Networks Private Limited | Pyro Telecommunications Ltd., 8-2-293/82, Plot No. 264/A-31, Road # 92, Jubilee Hills, Hyderabad – 500 033, Andhra Pradesh | 65/2014 dated 30.01.2014 | Issuance and Operation of Prepaid Payment Instruments | 30.03.2019 | Voluntary Surrender | | 2. | Card Pro Solutions Private Limited | 135, A to Z Industrial Estate, G K Marg, Lower Parel, Mumbai – 400 013 | 84/2015 dated 04.06.2015 | Issuance and Operation of Prepaid Payment Instruments | 10.02.2020 | Non-compliance with regulatory requirements | | 3. | Aircel Smart Money Limited | 2nd and 5th Floors, Building No 10A, DLF Cybercity, DLF Phase 2, Gurugram, Haryana | 83/2015 dated 04.06.2015 | Issuance and Operation of Prepaid Payment Instruments | 30.06.2020 | Non-renewal | | 4. | InCashMe Mobile Wallet Services Private Limited | InCashMe, TM House, 5/B Suhasnagar Society, Behind Income Tax Department, Ashram Road, Ahmedabad – 380 009, Gujarat | 127/2018 dated 06.04.2018 | Issuance and Operation of Prepaid Payment Instruments | 30.06.2020 | Non-compliance with regulatory requirements | | 5. | Delhi Integrated Multi-Modal Transit System Limited | 1st Floor, Maharana Pratap ISBT Building, Kashmere Gate, Delhi – 110 006 | 87/2015 dated 27.08.2015 | Issuance and Operation of Prepaid Payment Instruments | 10.07.2020 | Voluntary surrender | Following the cancellation of the CoA, these companies cannot transact the business of issuance and operation of Prepaid Payment Instruments. However, customers or merchants having a valid claim, if any, on these companies as PSOs, can approach them for settlement of their claims within three years from the date of cancellation. (Yogesh Dayal)
Chief General Manager Press Release: 2020-2021/635 | |