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Overview
The Zeta SpotGifting solution is fully compliant with RBI regulationsRBI regulations. In this article, you will know learn about:
Gifting specifications
| Specifications | Digital Gift Card | Physical Gift card | Brand Vouchers |
|---|---|---|---|
| Maximum loading limit. | Rs. 10000 per card | Rs. 10000 per cardRs. 10000 per card | Set by the issuing brand |
| Reloadable | x | x | x |
| Maximum card limit per user | x | x | x |
| ATM withdrawals | x | x | - |
| Bank withdrawals | x | x | - |
| Bill uploads | x | x | - |
| Customer should be full KYCed | x | x | x |
RBI guidelines
The maximum value of each prepaid gift instrument shall not exceed INR 10,000.
These instruments shall not be reloadable.
Cash-out or refund or funds transfer shall not be permitted for such instruments.
KYC details of the purchasers of such instruments shall be maintained by the PPI Issuer. Separate KYC would not be required for customers who are issued such instruments against debit to their bank accounts in India.
Entities shall adopt a risk-based approach, duly approved by their Board, in deciding the number of such instruments which can be issued to a customer, transaction limits, etc.
The gift instruments may be re-validated (including through issuance of the new instrument) as per the Board approved policy of the issuer.
The features of such PPIs shall be clearly communicated to the PPI holder by SMS / e-mail / post or by any other means at the time of issuance of the PPI / before the first loading of funds.
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For more information, read
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Where does Zeta stand?
According to RBI, the transfer limit per gift instrument is INR 10,000. If you wish to send gifts exceeding the limit, you can issue the same gift multiple times using SpotGifting.
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