Payments Council of India (PCI), the apex body representing the companies in the payments and settlement system, in its latest Annual General Meeting, has announced the appointment of Vishwas Patel, Director, Infibeam Avenues, as its new Chairman. Vishwas has been associated with PCI ever since its inception in 2013 and was serving as its Co-Chairman. He takes over from Naveen Surya, who has been elevated to the post of Chairman Emeritus. PCI has also announced the appointment of Loney Antony, Managing Director, Hitachi Payment Services as its new Co-Chairman.
In his capacity as the Chairman of PCI, Vishwas will drive the agenda of creating a sustainable environment conducive to the development of digital payments industry in India. He along with Loney and Naveen will strive towards achieving the government’s target of growing the volume of digital transactions to 30 billion for the financial year 2018-19. The newly appointed leadership team will lay considerable focus on ironing out the micro issues faced by the industry such as Implementation of Interoperability of Prepaid Payments Instruments, , reimbursement issues related to Debit Card MDR for transactions upto Rs. 2000, and simplification of outward remittance regulations, among others.