Mumbai, Jul 5 () Embattled businessman Jignesh Shah promoted Atom Technologies will no longer issue pre-paid cards as it has surrendered its licence as a payment system operator to RBI citing business restructuring.
However, the company will continue to remain operational in other verticals like merchant aggregation and payment services across various channels like point of sale, ecom/internet, IVR as well as mobile.
The Reserve Bank today said it has cancelled the certificate of authorisation (COA) of Atom Technologies after the company voluntary surrendered the licence.
The cancellation took effect from yesterday. Atom had initiated the surrender process in August last year.
In a communication to prepaid account holde…
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