Pay­ment Coun­cil to Reach Out to Small Fin Banks for Digi Push

The Economic Times - - Finance & Commodities - Pratik.Bhakta@ times­

Mum­bai: The Pay­ments Coun­cil of In­dia (PCI), the in­dus­try body for all pay­ment com­pa­nies, has opened up its mem­ber­ship to pay­ments banks and Bharat Bill Pay­ment op­er­a­tors (BBPOU) and plans to reach out to the small fi­nance banks as well to make them part of the dig­i­tal pay­ments ecosys­tem of the coun­try.

PCI, at a closed door meet­ing of its mem­bers on Fri­day, has also con­sti­tuted new com­mit­tees to look into var­i­ous is­sues within the broader pay­ments land­scape. They have con­sti­tuted a com­mit­tee for pay­ments and small banks, for pay­ment net­works and also for BBPOU. “The new com­mit­tees will func­tion in tan­dem with our pre­vi­ous com­mit­tees on pre­paid is­suers, merchant ac­quir­ers and in­ter­na­tional re­mit­tances,” said Gau­rav Cho­pra, ex­ec­u­tive di­rec­tor of PCI.

The in­dus­try body also de­cided on its new ex­ec­u­tive coun­cil with Naveen Surya, who was pre­vi­ously the manag­ing di­rec­tor of ItzCash as chair­man and Vish­was Pa­tel from CCAv­enue as co chair. “We have on­boarded Renu Satti from Paytm, Rishi Gupta from Fino Pay­ments Bank and Porush Singh from Mastercard among few oth­ers as our new mem­bers in the ex­ec­u­tive coun­cil,” said Cho­pra. This as­sumes sig­nif­i­cance in the wake of the new en­ti­ties be­ing li­censed by the RBI hav­ing started op­er­a­tions.

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