Daily Concept No 2581 - Payment System Operators (PSOs)

Daily Concept No 2581 - Payment System Operators (PSOs)

Payment System Operators (PSOs) are entities that facilitate the movement of funds between payers and payees in electronic payment systems.

Examples - National Payments Corporation of India (NPCI); The Clearing Corporation of India Ltd (CCIL); National Payments Corporation of India Bharat BillPay Limited (NBBL).

The RBI itself directly operates core wholesale systems including RTGS (Real Time Gross Settlement) for large-value funds and NEFT (National Electronic Funds Transfer) for other bank transfers.