Prepaid Wallet License in Haryana

Haryana pairs a large auto manufacturing base around Gurugram and Manesar with a strong agricultural economy and, in Gurugram specifically, one of India's densest corporate and startup hubs. For fintechs and platforms based in Haryana, a PPI licence is what turns a wallet product from an idea into an RBI-authorised payment instrument.

If you're launching a wallet or prepaid product out of Haryana, StartRight4U manages the full PPI licensing process end to end.

Understanding the PPI (Prepaid Wallet) Licence

The Prepaid Payment Instrument licence is RBI's authorisation, granted under the Payment and Settlement Systems Act, 2007, for issuing wallets, prepaid cards, and vouchers that hold monetary value for later use. Without it, a business cannot legally operate a digital wallet or semi-closed prepaid product at any meaningful scale in India.

The Three PPI Categories

• Closed system PPIs: redeemable only with the issuer, so no RBI authorisation is required — though usage is inherently limited
• Semi-closed system PPIs: valid across a defined merchant network under contract with the issuer — the licence category most wallet businesses need
• Open system PPIs: usable anywhere, including for cash withdrawal, typically limited to bank issuers

Eligibility for a PPI Licence

• Incorporation under the Companies Act, 2013
• Minimum positive net worth of ₹5 crore as per the latest audited balance sheet, reaching ₹15 crore within three financial years
• A secure technology platform supporting KYC-based onboarding and fraud monitoring
• A promoter and director group that clears RBI's fit-and-proper vetting

Documents to Prepare

• Certificate of incorporation, MOA and AOA
• Chartered Accountant-certified net worth certificate with audited financials
• A full technology and information-security architecture document, including escrow design
• Board resolution authorising the PPI licence application
• KYC and background documentation for directors and KMPs

The PPI Application Process, Step by Step

1. Incorporate the company and build a technology platform meeting RBI's security requirements
2. Assemble the net worth certificate and technology documentation
3. Set up the mandatory escrow account with a scheduled commercial bank
4. Apply to RBI with the business plan and compliance framework attached
5. Work through RBI's technical and financial review process
6. Receive the Certificate of Authorisation and launch under RBI's PPI operating norms

Why Choose StartRight4U

StartRight4U combines regulatory experience with an end-to-end execution team — documentation, technical review, and direct liaison on your application — so you're not navigating the process alone.

1. Dedicated specialists, not a generic filing service
2. Clear, upfront documentation checklist — no last-minute surprises
3. Direct support through queries and clarifications during review
4. Transparent pricing with no hidden charges