Quote by Mr. Sumil Vikamsey, MD & CEO – Cash Business, Hitachi Payment Services :
“Reserve Bank of India’s proposed initiative to enable UPI-based cash deposits is a progressive move that will boost the adoption of interoperable cash deposits, further accelerate the use of UPI and drive financial inclusion, particularly in areas where card penetration is limited. We welcome this move as it aligns with our vision of leveraging UPI’s reach and convenience for offering cash deposit facility.”
Reaction Quote by V. Balasubramanian, CEO, FSS Cash Tech :
“RBI’s move to allow non-bank payment system operators to offer CBDC wallets is a step in the right direction. CBDC holds the potential to greatly increase financial inclusion and enable faster, cheaper transactions. For higher adoption of CBDC, it is important that it is accessible and usable by diverse sections of our society. This will be further enhanced when customers have a wide array of CBDC wallets to choose from once non-bank payment system operators foray into this area. This move widens the playing field and can turn CBDC into a mainstream payment option in the foreseeable future.”