RBI guidelines for Sodexo clients, merchants and users
The RBI released the “Master Direction on Issuance and Operation of Prepaid Payment Instruments” for 2017-18. These rules have become operative from October 11, 2017.
Accordingly, all Sodexo clients, merchants and users are required to comply with the following:
- Clients are required to make advance payment as the same needs to be deposited in Escrow Account on issuance of Sodexo Cards.
- Clients, Sodexo Card Holders and Merchants need to comply with the Know Your Customer / Anti-Money Laundering & Combating Financing of Terrorism Guidelines issued by RBI.
- KYC compliance with Sodexo Cards:
- Sodexo Cards up to Rs.10,000/- by accepting minimum details:
- The minimum details shall include mobile number verified with One Time Pin (OTP) and self-declaration of name and unique identification number of any of the ‘officially valid documents’: Passport, Voter ID & Driving License.
- The amount loaded on Sodexo cards during any month shall not exceed Rs.10,000/- and the total amount loaded during the financial year shall not exceed Rs.1,00,000/-.
- The amount loaded on Sodexo cards at any point of time shall not exceed Rs. 10,000/-.
- The total amount debited from Sodexo cards during any given month shall not exceed Rs. 10,000/-.
- All Sodexo cards shall be made KYC compliant within a period of 12 months from the date of issue, failing which, no further credit shall be allowed. However, the Sodexo card holder shall be allowed to use the balance available on the card.
- Sodexo Cards up to Rs.1,00,000/- after completing KYC:
- The amount loaded on Sodexo cards shall not exceed Rs. 1, 00,000/- at any point of time.
- There are no spend limits on the Sodexo Card.
- The Sodexo Card can be loaded any number of times.
- Merchants should report suspicious transactions to Sodexo on email@example.com.
- The Company has entered into an escrow agreement with Citibank NA and has opened an escrow account with the Fort branch of Citibank NA in compliance with the “Issuance and Operation of Pre-Paid Instruments in India (Reserve Bank) Directions 2009”. Accordingly all payments to our Merchants will be made from the escrow account.
- In case of any query or need for support, the Sodexo card user can write us on firstname.lastname@example.org or call us on 1800-267-3030 or 1800-103-3030