India, April 7 -- UK-based fintech Revolut said it has received full authorisation from the Reserve Bank Of India (RBI) to issue prepaid payment instruments (PPI) like prepaid cards and prepaid wallets with UPI payments.

PPIs facilitate purchase of goods and services, conduct of financial services, enable remittance facilities, among others against the value stored therein.

In a statement, Revolut said it already has licences from the central bank for operating as a category-II authorised money exchange dealer, issuing forex cards and offering cross-border payment services in the country.

It received an in-principle approval from the RBI for PPI licence last year.

"We are excited to build on our existing licenses, and launch our domes...