Has the industry deliberated how collaboration and co-operation could be achieved in the three party model to increase the scale and volume of transactions? Arriving at a consensus on these issues will increase the acceptability amongst the customers as they will have a wider choice of PPIs and will help achieve the objective of increasing the cashless transactions.
KYC related issues Several requests for liberalisation of KYC requirements have been received from the industry. Several schemes in other countries which are operating in a relaxed and liberalized KYC environment have been cited. We are also aware of the use of PPIs for disbursement of Government benefits in some countries.