The Reserve Bank of India (RBI) has cancelled the certificate of authorisation (CoA) of Vodafone m-pesa following the latter’s voluntary surrender of authorisation.
Consequently, the company cannot transact business of issuance and operation of prepaid payment instruments.
However, RBI has said that the customers or merchants having a valid claim on the company as a payment system operator (PSO) can approach the company till September 30, 2022, for settlement of their claims within three years from the date of cancellation.
