For a long time, all digital payments required processing through a bank. However, the Reserve Bank has set deadlines for the end of this practice, and the first changes will affect not large corporate deals, but everyday, small calculations.
This refers to small amounts, such as paying for parking, topping up a phone balance, or bets in a casino slot machine. These small payments will become more accessible and simpler, which is especially relevant for businesses that heavily rely on small transactions, such as casinos.
What changes and when will they happen
The Reserve Bank presented a schedule of changes at a press briefing on October 16. Telecommunication companies, fintech companies, and retailers will be able to connect directly to clearing and settlement systems, bypassing banks. This opens up the possibility for a much larger number of players to participate in processing daily monetary operations.
September 2026
A draft Law on the National Payment System was published for comments, outlining the main framework. Initially, non-bank organizations will be able to independently perform seven types of payment operations.
November 2026
The approval of rules regarding payment operations and exceptions, as well as the standardized QR+ code, is expected. According to a TechCentral report, this QR+ code will allow even a parking attendant to accept digital payments without fees.
Around March 2027
The launch of licensed non-bank organizations is planned, leaving time for testing before commencing operations. By this time, a national money service belonging to the Reserve Bank should also be established.
By mid-2027, the system will be fully open to non-bank operators. The goal for PayShap by 2029 is to reach 500 million monthly transactions, compared to approximately 60 million currently.
Every step aims to make a small digital payment as fast and cheap as handing over cash, whether it's paying in a convenience store, taking a taxi, or a round in casino slots.
Small payments, big changes
Pradeep Maharaj, head of the Reserve Bank's payment ecosystem modernization program, stated that transactions below a certain threshold should be free. This is most significant where people spend small amounts, namely where cash payment still dominates.
Cash accounts for 56% of consumer transactions by volume and costs the economy approximately 88.5 billion rupees annually. Casinos demonstrate why this is important. Sun International, which owns 46% of the land-based casino market, earned 5.36 billion rupees from slots last year compared to 1.43 billion rupees from table games; slots are where people play small amounts by spinning reels.
At the same time, revenue from land-based casinos nationwide decreased by 4.6% in 2025, while online channels now account for about 60% of the gaming market, reflecting Sun International's shift in strategy towards digitalization. Casino gaming is moving to phones, and on the phone, payment is the entry point.
Online entry into casinos was initially built on small amounts. Many casinos in the UK allow deposits starting from £10, a level set so that people can try games without investing a large sum upfront, and this only works if the transfer of a small amount happens quickly and cheaply. Local betting sites operate based on such small top-ups, from vouchers bought at the counter to transfers via apps. Any fee on such a top-up eats up a large portion of it, so free low-cost payments will have the greatest impact right here.
What this means for your wallet
The first advantage is reduced fees for small transfers. The second is choice, as telecom wallets, retail apps, and fintech companies will be able to integrate directly into the system instead of renting access from a bank. Maharaj noted that 'Banks do an excellent job and will continue to do so,' so the essence is competition, not replacement.
Cash will also become more convenient. The Reserve Bank has instructed banks to brand their ATMs so that each machine processes deposits, withdrawals, and balance inquiries. A pilot project will begin in January, and the first batch of machines should be rolled out nationwide by the end of 2027. The most noticeable changes will be in locations with high cash usage, including casinos.
Casino groups are already planning a transition to a more digital customer. Sun International CEO Ulrik Bengtsson stated that the group aims to 'use digitalization and innovation to enhance our value proposition, expand our offerings, and enter attractive markets.' Cheaper small payments facilitate this both on the casino floor and via phone.
For players, small and controlled deposits suit those who play for fun within a set budget. Instant top-up of a small amount without a fee that eats into it helps better stick to that budget than depositing a larger sum to avoid charges.
The month to watch
November will be the month when this begins to show. The rules and the QR+ code will show how low the 'free' threshold can be and who can offer it. If this threshold falls within the range of small payments, the change will first be felt at the checkout, in taxis, and in casinos, long before the full-scale launch in mid-2027.
