RBI releases framework for geo-tagging of payment system touch points

RBI has released the framework for geo-tagging of payment system touch points to ensure proper monitoring of the availability of payment acceptance infrastructure.

New Delhi: Reserve Bank of India (RBI) on Friday released the framework for geo-tagging of payment system touch points to ensure proper monitoring of the availability of payment acceptance infrastructure.

Geo-tagging refers to capturing the geographical coordinates (latitude and longitude) of payment touch points deployed by merchants to receive payments from their customers. The payment acceptance infrastructure includes Point of Sale (PoS) terminals, and Quick Response (QR) codes.

According to the Reserve Bank of India (RBI), it is focused on deepening of digital payments and providing inclusive access to all citizens of the country.

"To achieve this objective, it is imperative that robust payment acceptance infrastructure is available and accessible across the length and breadth of the country," it said.

Monitoring of geo-tagging of payment system touch points will "support policy intervention to optimise distribution of payment infrastructure," the central bank said.