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LivQuik- 1st PPI insurer to Attain RBI’s PPI Interoperability Guidelines

Published on March 14, 2022
Current Context: LivQuik has become the first Prepaid Payment Instrument (PPI) insurer to gain full interoperability directed by RBI for their PPIs.
LivQuik- 1st PPI insurer to Attain RBI’s PPI Interoperability Guidelines
  • As per the powers mentioned under Section 18 read with Section 10(12) of the Payment and Settlement Systems Act 2007 it is mandated to all the PPI issuers to offer interoperability for full KYC wallets by 31st March 2022.
  • The interoperability will enable the customers to perform optimization of their payments and expenditure under their wallets by connecting a card on Visa or RuPay networks or enabling UPI.
  • The LivQuik has partnered with M2P Fintech to enable UPI on PPI.
  • Static Part: 
    • LivQuik was founded in 2012 and is an RBI authorized Prepaid Payment Instrument Issuer and Full-Fledged Money Changer (FFMC)

Question: 

Q.1 Which company has become the first Prepaid Payment Instrument (PPI) insurer to gain full interoperability directed by RBI for their PPIs?
a. LivQuik
b. Manappuram Finance Limited
c. Obopay Mobile Technology India Private Limited
d. Pine Labs Private Limited
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