The RBI has allowed non-banks to participate in its Centralised Payment Systems (CPS) through Real-Time Gross Settlement (RTGS) and National Electronic Fund Transfer (NEFT) systems, in a phased manner. Authorised payment system providers include prepaid payment instruments, white label ATM operators and card networks. It will reduce the cost of routing payments through banks, RBI said.
 

The RBI has allowed non-banks to participate in its Centralised Payment Systems (CPS) through Real-Time Gross Settlement (RTGS) and National Electronic Fund Transfer (NEFT) systems, in a phased manner. Authorised payment system providers include prepaid payment instruments, white label ATM operators and card networks. It will reduce the cost of routing payments through banks, RBI said.