ComplyKart Services
Prepaid Wallet (PPI) License – Issued Right
Launching a wallet, prepaid card, or gift instrument as a non-bank means RBI authorisation — with net-worth thresholds, escrow rules, KYC obligations, and a framework that is actively being rewritten. We keep your application aligned with the current rules.
CA/CS-guided review
Your documents and structure are checked before anything is filed.
Written scope first
Inclusions and payable charges are explained before work begins.
Support till it’s done
One team owns your filing, from the first call to the final handover.
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Experience behind every engagement
A quick snapshot of the work so far.
Fees
Fees and packages for Prepaid Wallet License
Every requirement is a little different, so we quote after a short discussion — the consultation itself is free.
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Prepaid Wallet License
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Prepaid Wallet (PPI) License Package Inclusions
- RBI PPI authorisation application preparation
- Net worth and capital compliance roadmap
- Escrow and customer grievance framework
- Interoperability (UPI) readiness check
- Application follow-up until authorisation
Overview
What PPI authorisation actually involves
Non-bank entities need RBI authorisation to issue prepaid payment instruments — wallets, prepaid cards, and gift instruments.
Only a company incorporated in India can apply, with minimum net-worth requirements certified by a statutory auditor.
PPI funds must be maintained in an escrow account with a scheduled commercial bank, with auditor certification.
Instruments carry prescribed limits on balances, loading, and usage by category — the framework was under RBI review in 2026.
Authorised issuers file periodic reports and maintain KYC, grievance redressal, and disclosure standards.
Benefits
Why wallet and PPI promoters work with us
Open each benefit to see what it means for you.
Readiness against current norms
Wallet authorisation has capital, KYC, escrow, and technology requirements — and the framework is evolving. We assess your readiness against the current rules.
Application documentation
Net-worth proof, fit-and-proper documentation, business plan — compiled for RBI's Department of Payment and Settlement Systems.
Escrow and systems guidance
Escrow with a scheduled commercial bank, auditor certification, transaction limits — the operational backbone RBI inspects.
Ongoing compliance setup
Authorisation is the start — reporting, KYC compliance, and grievance redressal run forever. We set up the calendar.
Documents
What documents do you need for a Prepaid Wallet License?
Clear, current documents matter more than a long checklist. Names, dates of birth and addresses should match across every record — that's what the authorities check first. Tick what you already have below.
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Applicant documents
Verified against official requirements
Licensing dossier
Verified against official requirements
Not sure if your documents are ready?
Send us what you have. A ComplyKart expert will review them for free and tell you exactly what's missing — no obligation.
Get Free Document ReviewProcess
Prepaid Wallet License process — step by step
You’ll see each stage, what’s pending and what we need from you — so filings don’t bounce back.
Step 1 of 5
Assess the licensing route
PPI authorisation from RBI is mandatory before issuing any wallet. We assess whether you need a fresh authorisation or can partner with an existing authorised issuer — partnership is faster for MVPs.
Structure the application
We map your product — limits, KYC tiers, merchant acceptance — to RBI's PPI categories so the application asks for exactly the right authorisation.
Compile the dossier
We prepare the complete application with financials, policies, technology documentation, and governance details. Compilation typically takes 6-8 weeks.
RBI examination
RBI's Department of Payment and Settlement Systems examines the application, focusing on financial soundness, systems security, and consumer protection. Clarifications are common.
Authorisation and compliance
On grant of authorisation, we help you implement ongoing obligations — escrow maintenance, periodic reporting to RBI, KYC compliance, and the customer liability framework for unauthorised transactions.
Why ComplyKart
Why ComplyKart for this
You should know who’s doing what. Open a stage to see how the work is shared.
RBI payments licensing specialists
PPI, P2P, and NBFC licensing are regular work for us — RBI's payments lens is familiar.
Current with regulatory change
The framework is moving. We track the drafts and final directions so your application doesn't go stale.
Full-stack handling
Application, escrow, KYC, reporting — one team for the full journey.
RBI payments licensing specialists: PPI, P2P, and NBFC licensing are regular work for us — RBI's payments lens is familiar.
FAQ
Frequently asked questions
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Yes — non-bank entities need RBI authorisation to issue prepaid payment instruments (wallets, prepaid cards, gift instruments). Banks already permitted to issue debit cards follow a lighter intimation process.
RBI's draft Master Direction (2026) proposed minimum net-worth of Rs. 5 crore at application, rising to Rs. 15 crore by the end of the third financial year. Since these were draft proposals, we confirm the final notified norms when you apply.
Typically several months — the application goes through scrutiny with queries. A complete first filing with proper documentation moves faster.
Gift PPIs, transit PPIs, general-purpose wallets, and specific-purpose instruments each have different limits — for example, the draft proposed caps on outstanding balances and cash loading. We design your product within the applicable limits.
PPI funds must be held in an escrow account with a scheduled commercial bank, usable only for authorised PPI business, with periodic auditor certification. We guide the escrow setup as part of the engagement.
Quote-based, covering the application, documentation, and compliance setup. Request a quote with your company details.
A PPI authorisation is for stored-value instruments — a lighter process than a payments bank licence, which is a full banking licence. If your ambition is deposits and a broader banking play, we will tell you which route fits.
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What clients say about working with us
Real stories from businesses we've worked with.
Our Trademark was applied in all the classes with a short span of time by Complykart Trademark Experts and I can say the level of expertise and commitment they carry is remarkable. It's an A+ from my side. We are now sticking to ComplyKart only.
I found the professionalism of the staff at complykart.com, a pleasure to work with. As a foreigner to India, they took the time to explain the documentation and assisted in every question I raised. I was pleased that complykart.com made it easy for my Business.
Trust, Commitment, Dedication and responsiveness are the best things with ComplyKart. Thanks for handling our Merger assignment with so much care. After my business disputes, complykart handles all things with own sense of understanding.
Trust & transparency
Sources & how we keep this page accurate
Primary sources we refer to:
- Ministry of Corporate Affairs (MCA)
- GST Portal
- Income Tax Department
- IP India (Trademark / Patent / Copyright)
Last updated: 3 October 2026
Compliance rules change. If something on this page looks outdated, tell us on WhatsApp and we'll fix it — and your filing will always follow the current rules, not just what's written here.
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