ZikZuk Technologies authorised as PPI issuer by RBI

What: RBI granted final authorisation to ZikZuk Technologies Pvt Ltd to operate as a Prepaid Payment Instrument (PPI) issuer under PSSA, 2007.

Scope: Enables wallets, prepaid cards, transit PPIs, PPIs for NRIs under UPI One World and expansion into digital payments & cross‑border services.

Significance:

• Payments ecosystem: Adds regulated players to India’s digital payments landscape; boosts competition and innovation.

• Financial inclusion: Opportunity for new instrument designs for underserved segments.

UPSC relevance: Payments regulation, fintech policy, digital finance.

Practice Q: Discuss regulatory considerations when expanding PPI authorisations in a digital payment ecosystem.