Pursuant to theJuly 9, 2015 introduced semi-closed prepaid payment instrument (PPI) as a new category of PPI for mass transit system operators (PPI-MTS). Semi-closed PPIscan be issued by PPI-MTS only after obtaining authorisation under Payment and Settlement Systems Act, 2007 and shall have features including inter alia a minimum validity of 6 months from date of issue and automated fare collection application.

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