RBI Issues Guidelines to Improve Accessibility of Digital Payments for Persons with Disabilities

The Reserve Bank of India (RBI) has introduced new guidelines aimed at enhancing the accessibility of digital payment systems for persons with disabilities (PwDs). With the increasing use of digital payment platforms, the RBI has directed payment service providers (PSPs), including banks and authorized non-bank payment operators, to modify their payment infrastructure to cater to the needs of PwDs.

The RBI’s guidelines call for a review and modification of payment systems and devices, such as Point-of-Sale (POS) machines, to ensure that they are user-friendly for individuals with various disabilities. This move is in line with the Ministry of Finance’s Accessibility Standards, which aim to create an inclusive financial ecosystem.

Focus on Security and Compliance

The guidelines emphasize that while making these modifications, PSPs must ensure that security aspects of the payment systems remain uncompromised. The RBI has asked PSPs to submit a comprehensive report within one month detailing the devices that need modification and outlining a time-bound action plan for implementation.

PSPs are required to submit their action plan to the Department of Payment and Settlement Systems at the RBI and appoint a Nodal Officer to serve as the primary contact for queries and further clarifications.

Alignment with Existing Policies

These guidelines build upon the RBI’s existing Master Circular on Customer Service in Banks, which already mandates inclusive banking services for PwDs. The new directive also aligns with the “Accessibility Standards and Guidelines for the Banking Sector” issued by the Ministry of Finance earlier in February 2024.

With this initiative, the RBI aims to ensure that digital payments are more accessible and inclusive, allowing PwDs to engage with financial systems independently and securely. Further updates on the implementation of these changes are expected in the coming months.