RBI urges payment providers to improve accessibility

11 Oct 2024 , 12:47 PM

The Reserve Bank of India (RBI) requested on Friday that all banks and non-bank payment system providers assess their digital payment systems to improve accessibility for disabled people. The regulator asked participants to make the necessary improvements to their payment systems based on the review.

The regulator stated that all participants should refer to the Ministry of Finance’s Accessibility Standards.

The RBI advises regulated entities to prioritise system security while implementing solutions for disabled individuals.

All payment system participants will have one month to tell the RBI of any changes they have made to their systems.

“To promote effective access, payment system participants (PSP) are advised to review their payment systems and devices in terms of accessibility to Persons with Disabilities,” according to the RBI.

“Based on the review they may carry out the necessary modifications, such that all their payment systems and devices, such as Point-of-Sale machines, can be accessed and used by Persons with Disabilities with ease.”

“PSPs shall submit to the Reserve Bank, within one month of the date of issue of this circular, details of their systems and devices that need to be modified, along with a time bound plan of action for achieving the same,” according to the regulator.

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