Prepaid Payment Instruments in India

Prepaid payment INSTRUMENTS are those which facilitate purchase of goods and services against the value stored on such instruments. The value stored on such instruments represents the value paid for by the holder, by cash, by debit to a bank account, or by credit card.

The Prepaid instruments can be issued as smart cards, magnetic stripe cards, internet accounts, online wallets, mobile accounts, mobile wallets, paper vouchers and any such instruments which can be used to access the prepaid amount.

Categories of Prepaid Payment Instruments

The prepaid payment instruments that can be issued in the country are classified under following categories:

Closed System Payment Instruments

These are payment instruments GeneRally issued by business establishments for use at their respective establishment only. These instruments do not permit cash withdrawal or redemption.

Semi-Closed System Payment Instruments

These are payment instruments which are redeemable at a group of clearly identified merchant locations/ establishments which contract specifically with the issuer to accept the payment instrument. These instruments do not permit cash withdrawal or redemption by the holder.

Semi-open System Payment Instruments

These are payment instruments which can be used for purchase of goods and services at any card accepting merchant locations (Point of sale terminals). These instruments do not permit cash withdrawal or redemption by the holder.

Open System Payment Instruments

These are payment instruments which can be used for purchase of goods and services and also permit cash withdrawal at ATMs.

Mobile Prepaid Instruments

The prepaid talk time issued by mobile service providers. This value of talk time can also be used for purchase of 'value added service' from the mobile service provider or third-Party service providers.

List of authorized Prepaid Payment Instruments in India

Sr. No.	Name of the Authorized Entity	Address of the Principal Office	Payment System Authorised	Date of issue of Authorisation & Validity Period (given in brackets)
1	Airtel M Commerce Services Ltd.	The Chief Executive Officer; Airtel M Commerce Services Ltd. Airtel Center, Plot No. 16, 6th Floor, Udyog Vihar, Phase -4, Gurgaon Haryana – 122001.	Pre-paid payment instruments known as Stored Value Card Wallet (SCW)	30.06. 2010 (Valid up to 30.06.2015)
2	Atom Technologies Limited	The Chief Executive Officer; Atom Technologies Limited, 4th Floor FT Towers, CTS 256 & 257, Suren Road, Chakala, Andheri (E),Mumbai-400093.	Pre-paid payment instruments	30.06. 2010 (Valid up to 31.12.2013)
3	CanvasM Technologies Limited	The Chief Executive Officer, CanvasM Technologies Limited, Principal Office, A-20, Sector – 60, Noida -201301	Pre-paid payment instruments known as ‘MoboMoney’	28.12.2012 (Valid up to 27.12.2014)
4	DigitSecure India Private Limited	The Chief Executive Officer, DigitSecure India Private Limited, Plot No: 1303 and 1304, 4th Floor, Khanamet, Hitech City, Ayappa Society, Madhapur, Hyderabad 500 081.	Pre-paid payment instruments known as ‘HotRemit'	23.07.2012 (Valid up to 22.07.2014)
5	Done Card Utility Limited	The Director, Done Card Utility Limited, 301, Linkway Estate, Near Chincholi Fire Station, New Link Road, Malad (West), Mumbai 400064.	Pre-paid payment instruments known as 'Done Cards'	29.10.2009 (Valid up to 31.10.2013)
6	Edenred (India) Private Limited – nee Accor Services Pvt. Ltd.	The Managing Director & Chief Executive Officer, Edenred (India) Private Ltd; Camera House, Majiwade Village Road Majiwade, Thane (W) 400601.	Meal vouchers and gift vouchers in the form of 'paper vouchers'	29.10.2009 (Valid up to 31.10.2013)
7	GI Technology Private Limited	The Director, GI Technology Private Limited, C-9, Thiru-Vi-Ka Industrial Estate- Guindy, Chennai - 600032	Pre-paid payment instruments known as 'I Cash Card (ICC)'	29.10.2009 (Valid up to 31.10.2013)
8	Itz Cash Card Ltd.	The Chief Executive Officer, Itz Cash Card Limited, Top 14th floor, Times Tower, Kamala City, Senapati Bapat Marg, Lower Parel, Mumbai 400013.	Pre-paid payment instruments	25.08.2009 (Valid up to 24.08.2015)
9	MMP Mobi Wallet Payment Systems Limited	The Chief Executive Officer, MMP Mobi Wallet Payment Systems Ltd.; A, E& F Blocks Voltas Premises, T B Kadam Marg, Chinchpokli, Mumbai - 400 033.	Pre-paid payment instruments known as ‘mRupee’	30.12.2011 (Valid up to 29.12.2015)
10	Mobile Commerce Solutions Limited	The Chief Executive Officer, Mobile Commerce Solutions Limited, Peninsula Corporate Park, Ganpat Rao Kadam Marg, Lower Parel, Mumbai – 400 013	Pre-paid payment instruments	08.11.2012 (Valid up to 07.11.2014)
11	Muthoot Vehicle & Asset Finance Ltd.	The Managing Director, Muthoot Vehicle & Asset Finance Ltd. 1st Floor, Cochin Dental Clinic Bldg. Market Road, Towards Kombara, Kochi – 682 014.	Pre-paid payment instruments only	29.10.2009 (Valid up to 31.12.2013)
12	My Mobile Payments Limited	The Chief Executive Officer, My Mobile Payments Limited, 7th Floor, MET Complex, Opp. Lilavati Hospital, Bandra – West, Mumbai 400 050	Pre-paid payment instruments known as ‘Money-on-Mobile'	24.10.2011 (Valid up to 23.10.2013)
13	One97 Communications Ltd	The Chief Executive Officer, One97 Communications Ltd., B- 121, Sector 5, Noida, Uttar Pradesh -201301.	Mobile based Pre-paid payment instruments (M- Wallet)	07.08.2013 (Valid up to 06.08.2018)
14	One Mobikwik Systems Private Limited	The Chief Executive Officer, One Mobikwik Systems Pvt. Limited, 758, 1st Floor, Udyog Vihar, Phase - V, Gurgaon, Haryana - 122016	Prepaid Payment Instruments known as ‘Mobikwik Wallet’	18.07. 2013 (Valid up to 17.07.2018)
15	OSS Payment Solutions Pvt. Ltd.	The Chief Executive Officer, OSS Payment Solutions Pvt. Ltd.-103, 4th Floor, Aditya Industrial Estate, Behind Chincholi Fire Station, Near Evershine all, New Link Road, Malad (West) Mumbai 400064.	Pre-paid payment instruments	30.06.2010 (Valid up to 31.12.2013)
16	Oxigen Services (India) Pvt. Ltd.	The Group President, Oxigen Services (India) Pvt. Ltd.; 257, Udyog Vihar, Phase-1, Gurgaon 122016-(Haryana).	Pre-paid payment instruments known as 'OxiCash Cards'	18.01.2010 (Valid up to 31.12.2013)
17	PayMate India Pvt. Limited	The Managing Director and CEO PayMate India Pvt. Limited, 111, 1st Floor, A- Wing, Sundervilla, SV Road, Santacruz (W), Mumbai –400054.	Pre-paid payment instruments known as “Paymate Wallet”	28.04. 2010 (Valid up to 26.04.2014)
18	Pay Point India Network Private Limited	The Chief Executive Officer, Pay Point India Network Private Limited 2nd floor, Sushil Building Kamala Nehru Compound, Cross Road No. 1 Kandivali (W) Mumbai 400 067.	Pre-paid payment instruments known as ' Pay Pointz '	03.04.2012 (Valid up to 02.04.2014)
19	QwikCilver Solutions Pvt. Ltd.	The Chief Executive Officer, QwikCilver Solutions Pvt. Ltd., 4- Basement Floor, Old No. 310/6, HR Complex Kormangala, 5th Block, Bangalore-560095.	Pre-paid payment instruments	06.08.2013 (Valid up to 05.08.2018)
20	Smart Payment Solutions Pvt. Ltd.	The Chief Executive Officer Smart Payment Solutions Pvt. Ltd. 6/35, WEA Karol Bagh, New Delhi – 110005.	Pre-paid payment instruments known as 'PayCash'	30.06.2010 (Valid up to 31.12.2013)
21	Sodexo SVC India Pvt. Ltd	The Chief Executive Officer, Sodexo SVC India Pvt. Ltd., Nesco Complex, Gate No. 3, Indabrator Building, Western Express Highway Goregaon (East); Mumbai 400063.	Meal vouchers and gift vouchers in the form of 'paper based vouchers' and 'Smartcard' or 'Smart Meal Card'	25.08.2009
22	UAE Exchange & Financial Services Ltd.	The Country Head- India, UAE Exchange & Financial Services Ltd., Third Floor, Airline Building Opp. Maharaja college Ground, M G Road, Kochi 682011.	Pre-paid payment instruments known as 'Silver Card' and 'Gold Card'	29.10.2009 (Valid up to 31.10.2013)
23	Y-Cash Software Solutions Private Limited	The Chief Executive Officer, Y-Cash Software Solutions Private Limited, 3rd Floor, 1140, 17th Cross, HST Layout, Bangalore 560102.	Pre-paid payment instruments known as ‘Y-PayCash’	15.03.2012 (Valid up to 14.03.2016)
24	ZipCash Card Services Pvt. Ltd.	The Director, ZipCash Card Services Pvt. Ltd., 25E/4 Model Town Bal Rajeshwar,Road Mulund (West) Mumbai 400 080.	Pre-paid payment instruments known as 'ZipCash Coupons'	29.10.2009 (Valid up to 31.10.2013)
25	Mobdeeds Mobile Solution Private Solution Private Limited	The Chief Executive Officer, #654, 1st Floor, 7th Main, 11th Cross, BTM 2nd Stage, Bangalore-560076	Pre-paid payment instruments known as “Mobdeeds Wallet”	10.10.2012 (Valid up to 10.10.2015)