Features of different types of virtual cards/prepaid instruments
Edited and re-posted on 03.05.2025.: Prepaid cards also known as virtual cards. They are issued by the banks and non-bank entities against the value paid in advance by the cardholder. As per RBI’s circular dated May 19, 2021, it shall be mandatory for PPI issuers to give the holders of full-KYC PPIs (KYC-compliant PPIs) interoperability…