Framework for Geo-Tagging of Payment System Touch Points
Framework for Geo-Tagging of Payment System Touch Points
As announced in the Statement on Developmental and Regulatory Policies released with the bi-monthly Monetary Policy Statement 2021-22 on October 08, 2021, the Reserve Bank of India (RBI) has today released the Framework for geo-tagging of payment system touch points.
RBI is focused on deepening of digital payments and providing inclusive access to all citizens of the country. To achieve this objective, it is imperative that robust payment acceptance infrastructure is available and accessible across the length and breadth of the country. Geo-tagging of payment system touch points will enable proper monitoring of availability of payment acceptance infrastructure like Points of Sale (PoS) terminals, Quick Response (QR) codes, etc. In turn, such monitoring will support policy intervention to optimise distribution of payment infrastructure.
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