In the First Cohort under the Regulatory Sandbox with ‘Retail Payments’ as its theme, six entities commenced testing of their products which was communicated vide Press Release dated November 17 and December 24, 2020.
2. The following six entities have completed the ‘Test Phase’.
3. The products were evaluated based on mutually agreed test scenarios and expected outcomes. All the products have been found viable within the boundary conditions defined during testing under Regulatory Sandbox.
4. The aforesaid entities have now exited the First Cohort of the Regulatory Sandbox on ‘Retail Payments’. The products found acceptable under this Cohort may be considered for adoption by Regulated Entities subject to compliance with applicable regulatory requirements.
Press Release: 2021-2022/852