Action on Vodafone m-pesa
Case Brief
The Reserve Bank of India cancelled the Certificate of Authorisation of M/s Vodafone m-pesa Limited, Mumbai, a Payment System Operator, under the Payment and Settlement Systems Act, 2007. The release says the cancellation was due to the company’s voluntary surrender of authorisation, indicating a withdrawal rather than a punitive enforcement action.
RBI states that it cancelled the Certificate of Authorisation of the named Payment System Operator under the Payment and Settlement Systems Act, 2007 because the company voluntarily surrendered its authorisation.
Severity Assessment
This is a withdrawal/restoration-type action with no forward-looking adverse impact because the authorisation was voluntarily surrendered and the cancellation reflects that surrender rather than a punitive restriction.
The company’s payment system authorisation stands cancelled, so it can no longer operate as a Payment System Operator under that authorisation. The immediate effect is on the entity itself; the text does not specify additional obligations or a remedial deadline for customers or counterparties.
Published as M/s Vodafone m-pesa Limited, Mumbai
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