What changed
RBI announced a framework for geo-tagging of physical payment acceptance infrastructure, as promised in the October 2021 Monetary Policy. Banks and non-bank PSOs must now capture and maintain latitude/longitude data for all payment touch points, including PoS terminals and QR codes. The reporting start date will be communicated later.
What it means for you
Lenders and PSOs need to systematically record location data for every payment touch point they deploy, from ATMs to QR codes. This will help RBI identify gaps in acceptance infrastructure and target interventions for financial inclusion. Compliance will require updating internal systems and processes to capture geo-coordinates accurately.
What you must do
- Set up a process to capture and maintain geo-coordinates (latitude/longitude) for all payment touch points, including PoS terminals and QR codes.
- Prepare a registry with accurate location details for each touch point, including merchant information.
- Await RBI's notification on the reporting start date and ensure readiness to submit geo-tagging data as per the framework.
- Train field staff and merchants on geo-tagging procedures to ensure data accuracy.
Who it affects
All banks deploying payment acceptance infrastructure, Non-bank Payment System Operators (PSOs), Merchants using PoS terminals or QR codes, Business Correspondents (BCs) with micro-ATMs
What exactly needs to be geo-tagged?
All physical payment acceptance infrastructure, including PoS terminals (mobile, soft, desktop, kiosk, Android, non-Android) and QR codes (Bharat QR, UPI QR). Banking infrastructure like ATMs, CDMs, and micro-ATMs are also covered.
When do we need to start reporting this data?
RBI has not yet announced the effective date for reporting. The framework is issued now, but banks and PSOs will be advised separately on when to submit the geo-tagging information.
What is the purpose of geo-tagging payment touch points?
To provide insights on regional digital payment penetration, monitor infrastructure density, identify gaps for deploying more touch points, and support targeted digital literacy programs for inclusive access.