HYDERABAD : The Ministry of Electronics and Information Technology (MeitY) has issued draft guidelines for transactions made through prepaid payment instruments (PPIs) like mobile wallets, smart cards and paper vouchers and has comments on the draft by March 20.
The draft has been formulated for security of prepaid payment instruments under provisions of IT Act 2000, under the draft IT (Security of Prepaid Payment Instruments) Rules 2017.
“With the government promoting cashless economy and boost being given to various digital payment systems, a need is felt to develop a framework for security of various PPIs operating in the country,” it said.It has proposed that PPIs should ensure end-to-end encryption of the data exchanged and emphasised that e-PPI issuers assist customers to secure use of PPIs to operated simple language.
It also suggests that each PPI company should have a privacy policy posted on its website, appoint a chief grievance officer, with his/her contact details prominently displayed on the website.
“The Grievance Officer shall act within 36 hours and shall resolve the complaint within one month from the date of receipt of such complaint,” it added.